Spikes in bond yields often precede a stock market correction.
However, the bond sell-off has been gradual and orderly.
Looking back, the 10-year bond yield has frequently been in the 4%-5% range.
These 10 stocks could mint the next wave of millionaires › If you haven't heard about it already, there's a massive sell-off in the bond market.
Holders of government bonds have been unloading them in reaction to outsize U.S. debt and elevated inflation, sending their prices lower and their yields, which move in the opposite direction of price, higher.
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On Monday, the yield on the 10-year Treasury note rose above 5% for the first time since late 2023. And even back then, it remained above that level for just one day. The 10-year yield is now a full percentage point higher than it was before the Iran war began.
And it's not just the 10-year Treasury note. The yield on the 5-year Treasury note has been rising dramatically since February, as h...