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Here's Why You Should Care About the Italian Bond Crisis

Italian bond yields are rising rapidly because the country is laden with debt and in political turmoil. Tracy Byrnes enlisted London Bureau Chief Martin Baccardax to help explain how it will affect us here at home -- because it will.

Lots of talk about Italian bonds lately. So is this the big unwinding -- or Greece all over again?

The yields on Italian bonds rose 35 basis points, on Friday alone.  That's almost as much as our 10-year U.S. Treasury has moved over the entire year.

That's not good, because when yields -- or the interest rate you get from loaning out your money -- goes up, that means people are worried they are not going to get paid back in the end.

And it's not just Italy's short-term bonds.  The yield on its 10-year is rising too.

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Of course the bigger question is: how does this affect us at home? 

Because it does.  So listen to the clip above to hear how.  Then be sure to sure to check out the full conversation below below with Chief Correspondent Tracy Byrnes and London Bureau Chief Martin Baccardax to hear how you can make money off of it all. 

You can start with Jim Cramer's list of stocks that do well in a rising interest-rate environment

And for more exclusive audio content by TheStreet, check out these podcast series: