The 10-year US Treasury yield has crossed above 5% for the first time since 2007, while the 30-year yield has surpassed 5.3%, levels not seen in nearly two decades. Treasury Secretary Scott Bessent attributes this surge to global factors, pointing to synchronized bond selloffs in Japan, Germany, and the United Kingdom. US national debt has now exceeded $40 trillion with budget deficits hovering around 6% of GDP. The Treasury Department has responded with expanded buyback operations exceeding $4 billion per auction to absorb supply and cap yield increases. Escalating US-Iran tensions have pushed oil prices above $100 per barrel, fueling inflation expectations and further pressure on bond markets.
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