Key bond yields spike to their highest levels in 3 months as the strongest Chinese manufacturing report in a decade stokes new inflation fears

• Bond yields soared Wednesday, extending this year's jump in borrowing costs. 
• The closely watched 10-year Treasury yield pushed above 4% for the first time since November. 
• "Bond love" is at a 10-year high in recommended allocations, says Bank of America. 

This year's surge in US bond yields stretched into the beginning of March as strong Chinese economic data on Wednesday fed into global fears about persistently high inflation.  

The 10-year Treasury yield, a gauge of borrowing costs for a range of consumer loans and other debt, sprang up nine basis points to 4.006%. That was highest yield on that government note since November. US stocked slipped as yields jumped on Wednesday.