Bonds have been selling off over the past few days, signaling deep fissures in the economy and financial markets.

The stock market got a lot of attention this week, but the bigger story was going on in the debt market. Here's what the spike is yields is telling us.

The adjustment to the schedule on Thursday is an unusual move. The bank will sell the same amount of bonds. But by offloading short-term debt the pressure is reduced on long-term bonds — selling of those bonds by other investors has been the most intense and raised interest rates for government borrowing.