U.S. 30-Year Treasury Yield jumps to highest level in more than 22 years

Source: Hal Turner

U.S. 30-Year Treasury Yield jumps to highest level in more than 22 years: 5.35% and rising.

MORE:   US 10-YEAR YIELD RISES 7BPS TO 5.23%, HIGHEST SINCE 2007

The 10-year U.S. Treasury yield surged to 5.23% in one go, up 7 basis points in a single day, and hitting a new high since 2007. This is no longer just ordinary interest rate volatility—it's capital repricing inflation, energy, and fiscal risks.

The economy CANNOT sustain this.

Government Bonds are the literal safest financial investment in the world, and they set the foundation for the entire financial system.

If the "safest" investment is having to pay 5.23% to 5.35%, then all the other financial instruments MUST go higher because they are all riskier.

We're heading into seeing 30 Year Mortgages hitting eight percent (8%).  That will smash the housing market because Interest payments on homes make the homes unaffordable.  

Corporations whose debts are maturing, will have to refinance at MUCH higher rates.  Companies will Bankrupt over this.

We are in an actual Bond Market Crisis, and pretty much NOBODY is saying it out loud.