Bond markets around the world are under pressure, as investors sell bonds and demand higher returns to lend governments money.

It's pushing up borrowing costs and the effects can flow through to the mortgages, bank loans and credit cards we rely on every day. 

So, what’s driving the global bond sell off, and is the Trump administration's ballooning government debt to blame?

Today, Justin Wolfers, professor of economics and public policy at the University of Michigan, explains what’s happening in the bond market and what it means for your money.  

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Justin Wolfers, professor of economics at the University of Michigan and founder of Platypus Economics 

In the 2000s, a wave of cheap Chinese goods that flooded global markets and wiped out manufacturing jobs became known as the China Shock.  

Now it's sequel, China Shock 2.0 has arrived.  

But this time, China isn't just exporting cheap goods. It's taking on the world in cutting-edge technology, from AI to electric vehicles and robotics.   Today, economist David Autor, who helped coin the phrase 'China Shock' and is one of Time magazine's most influential people of 2026 in AI, on whether the world is ready for it. 

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David Autor, Professor in the MIT Department of Economics 

According to Donald Trump, Pete Hegseth is doing a 'fantastic job' running the US military.  

But this week one of his most senior officials, the Army Secretary, quit after months of tensions with Hegseth, who has already purged dozens of other senior generals and admirals.  

Today, staff writer at The Atlantic Missy Ryan on the turmoil at the Pentagon, and how long Hegseth will continue to have Trump’s backing. 

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Missy Ryan, staff writer at The Atlantic 

In 2017, billionaire Sanjeev Gupta arrived in Whyalla promising to save the town’s struggling steelworks and hundreds of local jobs. 

But nearly a decade later, the steelworks is still fighting for survival. Gupta's business empire has unravelled and he has left Australia along with the promises he made. 

So what went wrong? 

Today, former Media Watch host Paul Barry takes us inside the rise and fall of Sanjeev Gupta’s steel dream and how he fooled Whyalla and the world. 

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Paul Barry, author of The Big Steel: How steel tycoon Sanjeev Gupta fooled Australia and the world

Dr. John All is a mountaineer and scientist who nearly lost his life after falling more than 20 meters down an icy crevasse while researching how quickly the Himalayas are melting. 

A week after a catastrophic flood struck the Nepal-Tibet border, he warns the tragedy we’ve seen in the region could be repeated as pollution and rising temperatures turn mountain ice into water.  

Today, he speaks about researching climate change in treacherous terrain, and how soon the Himalayan glaciers could disappear.  

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John All, mountaineer and co-founder of the American Climber Science Program 

Pauline Hanson is on a roll. 

The latest test came over the weekend in a by-election for the small coastal electorate of Secret Harbour, south of Perth, where almost 40 per cent of voters gave One Nation their first-preference vote -- numbers that Labor and the Coalition could only dream of at this point. 

Today, Michelle Grattan, chief political correspondent at The Conversation, on the One Nation blitz.

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Michelle Grattan, chief political correspondent at The Conversation 

As the US hurtles towards the November midterms, data centres have become a major election issue, with politicians across the political divide joining voters in demanding a moratorium on new construction.  

Even Erin Brockovich is getting involved in a campaign sweeping the country.  

Today, Nicol Turner Lee, a senior fellow at the Brookings Institution, on the backlash against data centres and what it says about Australia’s approach as the debate heats up. 

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Nicol Turner Lee, senior fellow at the Brookings Institution 

Since Donald Trump launched his war in Iran, the MAGA movement has been dramatically split over the military action. 

Once a key Trump supporter, high profile media personality Tucker Carlson has turned on the US president, fuelling speculation he could make his own presidential bid in 2028.  

Today, New Yorker magazine staff writer Jason Zengerle on whether the podcaster could become the president. 

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Jason Zengerle, New Yorker magazine staff writer 

Canada's Prime Minister Mark Carney has come out swinging, outlining a major retaliation against US President Donald Trump's latest wave of tariffs. 

The two neighbours have been spiralling towards an escalating trade war since negotiations collapsed last week. 

But could Canada’s response inspire other countries like Australia to push back against Trump's tariffs too? 

Today, David Smith from the United States Studies Centre on Mark Carney's defiance against the US and whether we should follow suit.  

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David Smith, Associate Professor of US Studies at the United States Studies Centre

In a landmark US court case, attorneys general representing 29 states are suing Meta, the company behind Facebook and Instagram, accusing it of knowingly harming children and designing its platforms to keep young users hooked on scrolling.

It's being likened to the wave of lawsuits filed against big tobacco companies in the 1990s.

If the states are successful, the ruling could have far-reaching consequences for Meta's business model, and for the way all of us use social media.

Today, Dara Kerr, tech reporter with The Guardian US on what could be Meta's big tobacco moment

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Dara Kerr, tech reporter for The Guardian US

It took a week, but the head of the AFL has now fronted the press over the Swans scandal.  

CEO Andrew Dillon has distanced the sport from the Sydney club, saying the actions of a few do not define an entire code. 

Today, investigative sports reporter Jessica Halloran on the AFL's response and why it's not enough.  

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Jess Halloran, ABC investigative sports reporter