The US government doesn't set its own bond yields. The bond market does.
This week a 5-year Treasury auction went badly: not enough buyers showed up. When demand drops, prices fall and yields rise. Add a hot PMI and a Fed governor saying more hikes are likely, and the 10-year hit 5.10%, last seen in July 2007.
Bond vigilantes, explained in one minute.
Who blinks first, the bond market or the Fed?
$BTC #Fed
This week a 5-year Treasury auction went badly: not enough buyers showed up. When demand drops, prices fall and yields rise. Add a hot PMI and a Fed governor saying more hikes are likely, and the 10-year hit 5.10%, last seen in July 2007.
Bond vigilantes, explained in one minute.
Who blinks first, the bond market or the Fed?
$BTC #Fed