A U.S. bond selloff has lifted yields to 24-year highs, sparking concerns about the country’s debt sustainability and prompting some countries to trim their holdings. The development is pressuring Washington to tackle the problem by cutting spending and issuing more debt at the shorter end of the curve. The bond selloff is also happening in other G7 countries running high deficits, most notably France, whose difficulties are triggering worries of a European bond crisis. [...]