<ul><li>Japan's bond yields maturing at 30 and 40 years soared to record highs on Tuesday.</li><li>U.S. Treasury bond auctions failed to attract buyers, resulting in the 30-year treasury bond yield closing at 5.098% by Wednesday evening, a level not seen since 2023.</li><li>Stocks are pricing in the downside risks of the U.S. deficit worsening with expectations of a tax break for high-net-worth individuals and higher costs for everyday working Americans.</li><li>High bond yields serve as a warning of the risks from the Republican spending bill, with the possibility of further yield increases and potential impacts on mortgage rates and stock sectors like technology and pharmaceuticals.</li></ul>

Why Japan and U.S. Yields Just Soared

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