Benchmark US government bond yield hits 19-year peak as oil prices surge - Al Jazeera
Benchmark US government bond yield hits 19-year peak as oil prices surge - Al Jazeera
Source: Al Jazeera
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DW NOTE
The 10-year at 4.96% is pricing what the Fed cannot say: that hiking into an oil shock means choosing inflation over growth. The Strait of Hormuz has been closed for two months, crude is up 60% year-over-year, and the policy response is to make borrowing more expensive. This is not hawkishness — it's capitulation to bond vigilantes who stopped believing the deficit was sustainable.