Jim Cramer, host of CNBC’s « Mad Money » show, warned Monday that investors cannot ignore the bond market as stubborn inflation and surging corporate borrowing are keeping long-term rates elevated and pressuring stocks. The 10-year Treasury yield has climbed from below 4% in February to nearly 4.7%, while the 30-year Treasury yield recently topped 5.3%, its highest level in nearly two decades. The US Treasury Department announced it would more than double the size of its longer-term debt buybacks, but this measure only provided temporary relief, with rates rising again the very next day. According to Cramer, the only real solution would be spending cuts or increased revenue, which the Treasury cannot implement on its own with national debt now exceeding 40 trillion dollars.
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