Bonds are flashing recession, consumers are the gloomiest since 2014, and the White House just cracked open emergency oil reserves. A lot to unpack before the close.

The bond market just sent a message, and it wasn't subtle.

📉 30-yr Treasury yield hits a 24-year high today

Today on The Open Bell:

The 30-year Treasury yield, which is what the US government pays to borrow money for three decades and the invisible hand behind your mortgage rate, just hit 5.62 percent, a level this country hasn't seen since 2002, and the people setting prices on those bonds are saying something loud and clear about where they think inflation is actually headed.

The Trump administration just cracked open 40 million barrels from the Strategic Petroleum Reserve, the country's emergency oil stockpile, to try to hold pump prices down while the US-Iran standoff keeps rattling Middle East supply routes, but two days' worth of American consumption only buys so much time, and the reserve isn't bottomless.

Consumer confidence just collapsed to its lowest reading since 2014, with the forward-looking piece of the index falling to a level economists associate with outright recession expectations, and the fact that markets shrugged tells you something uncomfortable about whose anxiety actually moves prices.

If this helped you make sense of a genuinely strange day in the economy, a five-star rating takes about ten seconds and helps the next listener find the show.

New episodes every weekday morning at theopenbell.co

Not investment advice. For informational purposes only.

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Chapters:
00:00 Introduction
00:12 US 30-yr Treasury yield hits 24-yr high as inflation fears g
03:00 Trump taps SPR for 40 mn barrels; Brent crude tumbles toward
05:10 Closing thoughts

The 30-year Treasury yield, which is what the US government pays to borrow money for three decades and the invisible hand behind your mortgage rate, just hit 5.62 percent, a level this country hasn't seen since 2002, and the people setting prices on those bonds are saying something loud and clear about where they think inflation is actually headed.

📉 30-yr Treasury yield hits a 24-year high today

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