India, Sept. 30 -- Global bonds edged higher on Wednesday, but they were still on track for their worst month in years. The main pressure is coming from weak government finances, a large supply of new debt and rising inflation.

Energy costs have also stayed high as the seven-month-old US-Israeli war on Iran continues to affect oil supplies and prices. Reuters reported these factors as key reasons behind the pressure on global bonds.

The benchmark 10-year US Treasury yield was at 5.209% in early European trading on Wednesday. It was slightly below its highest level since June 2007. The yield was down 4.6 basis points on the day but was still on track to rise by more than 45 basis points in September.

That would be its biggest monthly ri...