Bond markets are bracing for interest-rate pain in a way they haven't in decades, as investors assess the economic costs of the war with Iran and how the global economy will bear those burdens. Benchmark 10-year U.S. Treasury yields hit their highest in around a year on Friday, two days after the government sold 30-year bonds at the highest yield since 2007, as traders anticipated the Federal Reserve would be forced to hike rates to rein in inflationary pressures stemming from energy shocks.