Current high 10 year Government bond yields [4.75% US-2.9% Japan-5.15% UK–3.35% Germany– 4.2% France ] were the norm in -pre-GFC  [global financial crisis] era , the crucial difference and complication lies in the balance sheets [2] Government debt to GDP- US 124%–Japan 207% -UK 102% — France 116%–[3] US has failed in its inflation mandate for 64 consecutive months –Courtesy BusinessLine