Bond Bloodbath Worsens On Inflation, Lax Fed, And Flood Of New Debt; Mortgage Rates Hit 6.75%
The bond market is experiencing significant turmoil as inflation concerns and a lax Federal Reserve policy contribute to rising yields. The 30-year Treasury yield has reached its highest level since June 2007, now at 5.19%. Additionally, mortgage rates have surged to 6.75%, reflecting the broader impact of these financial conditions.
- ▪The 30-year Treasury yield rose to 5.19%, the highest since June 2007.
- ▪There is now a spread of 156 basis points between the 30-year Treasury yield and the Effective Federal Funds Rate.
- ▪Mortgage rates have hit 6.75%, indicating rising borrowing costs for consumers.
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