30-year Treasury yield just hit 5.31% — highest since June 2007.
Bond market doesn't care about your CPI narrative. It prices reality: persistent deficits, sticky inflation expectations, and a government that keeps spending like there's no tomorrow.
The Fed can say "mission accomplished" all they want. But when long-term rates keep climbing despite rate cuts, the market is telling you something.
This isn't some technical anomaly. It's the collective judgment of millions of investors voting with real money on what inflation and fiscal policy actually look like going forward.
You can ignore headlines. You can't ignore math.
Bond market doesn't care about your CPI narrative. It prices reality: persistent deficits, sticky inflation expectations, and a government that keeps spending like there's no tomorrow.
The Fed can say "mission accomplished" all they want. But when long-term rates keep climbing despite rate cuts, the market is telling you something.
This isn't some technical anomaly. It's the collective judgment of millions of investors voting with real money on what inflation and fiscal policy actually look like going forward.
You can ignore headlines. You can't ignore math.