Escalating Middle East geopolitical tensions and persistent trade friction have officially driven global bond yields to multi-year highs, though the shockwaves stopped abruptly at the Todos Santos town line. Expats nursing morning micheladas noted that rising yields sound suspiciously like work, a concept they retired from in 2014. Global capital markets may be bleeding out, but the local surf shack still has plenty of shade and nobody is checking Bloomberg terminals.