The ongoing US-Israel war vs Iran is diverting lots of resources from their respective economies. In the case of the US, its public debt that was rising some $5.8 billion/day during Biden's four years administration, further rose to $6+ billion/day, and during the first two weeks of the war, the debt was rising by $13 billion/day (data from Debt to the Penny, US Treasury, I computed the daily average increase).
More borrowing means higher interest rates as government is competing for funds with the private sector. The US government 10-year bonds jumped from 3.95% last February 27 to 4.39% last March 20.
In Asia, it seems the Philippines has an OA increase in bond rates, the rise is like oil prices shooting up to the clouds.
The Philippine government is worried about the need for increase subsidy to help mitigate the impact of high energy prices and overall inflation rate. I think the DOF is stockpiling with more borrowings now.
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