The Kobeissi Letter
@KobeissiLetter
Absolutely incredible:

The US 20Y Note Yield is now above 5.00%.

At the current pace, we will have 7% mortgages and $4.00 gas prices this week.

Talk about a turn of events.
https://x.com/KobeissiLetter/status/2036026417981325690?s=20

Gandalv
@Microinteracti1
The 20-year Treasury yield just punched through 5%.

That’s the bond market telling you something the White House press office won’t: the trade war tariff and Iran chaos is starting to look a lot like a self-inflicted credit event. Foreign holders are selling US Treasuries. Yields spike when prices fall. Basic stuff. Painful stuff.

The downstream math writes itself. 7% mortgages. $4 gas.

Here’s the part that should make you spit out your coffee: this isn’t happening because the economy is roaring. It’s happening because the world is quietly, methodically, repricing the risk of holding American debt. That’s a very different animal.

The adults used to be in the room. The room is now on fire and someone is arguing about the drapes.
Talk about a turn of events.

Gandalv /
@Microinteracti1
https://x.com/Microinteracti1/status/2036035455611769304?s=20