U.S. 30-year Treasury yield hits highest since 2004 - qz.com
U.S. 30-year Treasury yield hits highest since 2004 - qz.com
Source: qz.com
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DW NOTE
The 30-year hit 5.19% yesterday — the highest since November 2004, when the rate was 5.21%. That was a different kind of problem: the Fed fighting asset bubbles in a peacetime expansion. This is the bond market pricing a government that ran a $1.9 trillion deficit while fighting three wars and now needs to refinance $9 trillion in maturing debt into a Fed hiking cycle. The difference between 2004 and now is that back then, buyers believed the deficits would shrink.