Rising Bond Yields Are a Warning to the US Treasury and the Fed
The Fed is not in a good spot.
Source: Mish Talk
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DW NOTE
The ten-year yield is at 4.63% and the thirty-year at 5.21% while the Fed holds rates steady and inflation runs at 3.53%. Bond vigilantes aren't warning the Treasury — they're pricing in the certainty that a $1.9 trillion deficit can't be financed at these yields without either breaking the currency or breaking the Fed's credibility.