Bond Market Rebellion: Warsh's Jackson Hole Debut Looms as $40T Debt and Dollar Weakness Rattle Markets

The 30-year Treasury yield settled at 5.23% on Monday, retreating 4 basis points from last week's 19-year high of 5.34%, after the Treasury revealed it may tap its ~$950 billion General Account to fund expanded bond buybacks. The 10-year yield eased to 4.7%, while the US Dollar Index hovered near a three-month low around 98.95. US public debt crossed the $40 trillion threshold last week, doubling in just a decade — a staggering milestone...