WS #15083
US 30-Year Treasury yields have spiked to 5.612%, the highest since 2002, driven by a yen carry trade unwind and inflation fears. Barclays warns yields could reach 6%, while consumer confidence collapsed to a 12-year low, missing estimates by a wide margin. This macro deterioration has triggered a broad market selloff, with the median S&P 500 stock trading 16% below its 52-week high, the weakest breadth since the dot-com bubble.
Bond Market Crisis and Macro Deterioration
US 30-Year Treasury yields have spiked to 5.612%, the highest since 2002, driven by a yen carry trade unwind and inflation fears. Barclays warns yields could reach 6%, while consumer confidence collapsed to a 12-year low, missing estimates by a wide margin. This macro deterioration has triggered a broad market selloff, with the median S&P 500 stock trading 16% below its 52-week high, the weakest breadth since the dot-com bubble.