Summary

• Treasury long bond (30yr) yields jumped 18 bps this week to 5.12%, surpassing the October 2023 gilt crisis spike to the highest yield all the way back to July 2007.
• United Kingdom government debt has expanded to a dismal 150% of GDP - up from 2019's 85%.
• The iShares Emerging Market Equities ETF dropped 4.2% this week, the largest decline since the start of the war.
• Big tech (equities more generally) would traditionally be sensitive to inflation risk and rising market yields.

It was rough. And I'm not referring to Iran war negotiations or President Trump's Beijing trip. The bond rout was global.

"Treasury Buyers Get 5% Long Bond for First Time Since 2007." Treasury long bond (30yr) yields jumped 18

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