Treasury yields have surged recently amid concern about global sovereign debt issues, and that’s not good news for stocks, some experts say.

After dipping to 3.59 percent Feb. 5, the 10-year Treasury bond yield briefly touched 4 percent Monday for the first time in intraday trading since June. It hasn't ended the day above 4 percent since before the credit crisis erupted in late 2008. The yield is often used as a benchmark for consumer loans.

Concern about the United States’ mushrooming debt burden, fear of inflation and the winding down of the Federal Reserve’s mortgage security purchases also are pushing rates higher.

Higher Treasury yields also mean higher interest rates for everything from mortgages to personal loans. And that has a dampening effect on economic growth.

"It keeps the recovery from being quite as quick, it makes bonds more attractive investments vis-à-vis stocks, and it has the potential to put pressure on stock prices," Gordon Fowler, chief executive of Glenmede Trust, told The Wall Street Journal.

At some point the debt explosion will come back to bite us in the stock market, experts say.

"The fear is that the markets are starting to balk at the wall of supply needed to finance this year's expected $1.4 trillion federal budget deficit," Paul Dales of Capital Economics wrote in a note to clients obtained by The Journal.

Star Pimco bond fund manager Bill Gross says that Treasuries will continue their slump. But he doesn’t think that will hurt stocks.

"To the extent that stocks are now basking in a growth revival, more than green shoots, there is a chance that stocks keep going," he told CNBC.