Scott Bessent cannot save the bond market from Congress's $40 trillion national debt
One month after the bond market went ballistic, with the 10-year Treasury yield breaching 4.7% and the 30-year Treasury yield skyrocketing to 5.17%, the market is now well and truly imploding. The benchmark 10-year hasn’t come down, and the 30-year has catapulted toward 5.3%, hitting its highest level since before the Great Recession.
TL;DR
- The bond market is experiencing an implosion.
- The 10-year Treasury yield has breached 4.7%.
- The 30-year Treasury yield has skyrocketed to 5.17% and is nearing 5.3%.
- The 30-year Treasury yield is at its highest level since before the Great Recession.