America's borrowing costs are rising as big foreign holders back away from US debt — bad for the government, bond holders, and anyone hoping for rate cuts.

• Iran's parliament speaker Ghalibaf publicly trolled the US over high diesel prices, weak demand at Treasury auctions, and a shaky bond market.
• Japan is selling US Treasuries to raise cash and prop up the yen, after a US attempt to support Japan's currency failed.
• Norway's giant sovereign wealth fund has cut its US Treasury holdings by roughly $80 billion.
• The US now spends nearly as much on interest for its debt as on its entire military budget.
• Long-term returns on Treasuries are the worst since the 1930s, hitting savers and 401(k) holders who treated them as safe.

Outlook: The Fed's decision next Wednesday lands with markets already leaning toward a rate hike rather than a cut, and Trump is threatening trade shutdowns if rates do not fall.