00:00It's Benzinga, bringing Wall Street to Main Street
00:02U.S. government bonds suffered their worst day in nearly 18 months on Wednesday, as the
00:0710-year Treasury yield surged to 5.113%, its highest level since 2007, according to The
00:13Wall Street Journal.
00:14A perfect storm of economic and geopolitical developments drove the yield up by the most
00:18in a single session since Trump's April 2025, Liberation Day, tariff rollout.
00:23The sell-off accelerated after a business survey showed the fastest growth in more than
00:27five years and the strongest job growth in more than four years.
00:31Oil prices also climbed after Iran's president said the country would not fully open the
00:35Strait of Hormuz while sanctions remain.
00:37Fed Governor Michael Barr warned inflation remains above the Fed's 2% target, while a
00:42weak auction of five-year Treasury notes added to the pressure.
00:45Stocks also declined, with the S&P 500 falling 0.8%, the Nasdaq Composite dropping 1.1% and
00:53the Dow losing 0.7%.
00:55For all things money, visit Benzinga.com.
