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The U.S. 30-year Treasury yield is trading at levels last seen 19 years ago, near the onset of the 2008 global financial crisis.
The 30-year Treasury yield was trading at 5.32 percent as of 3:15 a.m. on Aug. 18. The last time the rate was at this level was in June 2007. The recent spike in Treasury rates comes as a 60-day negotiating window tied to a ceasefire framework between the United States and Iran ended this week, without any agreement to end the war or fully reopen the critical Strait of Hormuz, creating uncertainty among investors.
Recent data on jobs and inflation have also not been promising. The U.S. job market unexpectedly lost 23,000 jobs in July, diverging considerably from consensus estimates of 80,000 new job additions. While the 12-month inflation rate fell slightly from 3.5 percent in June to 3.4 percent in July, it still remains high compared with the 2.4 percent rate in February before the U.S.–Iran war broke out….
The 30-year Treasury yield was trading at 5.32 percent as of 3:15 a.m. on Aug. 18. The last time the rate was at this level was in June 2007. The recent spike in Treasury rates comes as a 60-day negotiating window tied to a ceasefire framework between the United States and Iran ended this week, without any agreement to end the war or fully reopen the critical Strait of Hormuz, creating uncertainty among investors.
Recent data on jobs and inflation have also not been promising. The U.S. job market unexpectedly lost 23,000 jobs in July, diverging considerably from consensus estimates of 80,000 new job additions. While the 12-month inflation rate fell slightly from 3.5 percent in June to 3.4 percent in July, it still remains high compared with the 2.4 percent rate in February before the U.S.–Iran war broke out….
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