A global bond sell-off is intensifying as Moody’s downgrade of the U.S. credit rating and President Donald Trump’s proposed tax bill reignite investor concerns over ballooning fiscal deficits, according to CNBC. Trump failed to rally GOP dissenters behind the legislation, which is projected to raise U.S. debt by $3 trillion to $5 trillion. The proposal has coincided with a sharp spike in Treasury yields. The U.S. 30-year Treasury yield broke above 5% for the second day, reaching 5.088%, while the 10-year yield jumped over 15 basis points this week. Mizuho Securities's Vishnu Varathan said markets rejected Trump’s tax bill, triggering a harsh sell-off in U.S. Treasuries.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Global bond solve is intensifying as Moody's downgraded the U.S. credit rating in President
00:06Donald Trump's proposed tax bill, re-ignited investor concerns over ballooning fiscal deficits,
00:11according to CNBC. Trump failed to rally GOP to senators behind the legislation,
00:15which is projected to raise U.S. debt by $3 trillion to $5 trillion.
00:19Proposal has coincided with a sharp spike in Treasury yields.
00:22U.S. 30-year Treasury yield broke about 5% from the second day, reaching 5.088%,
00:27while the 10-year yield jumped over 15 basis points this week.
00:31Vizu Securities' Vichu Varthrin said markets rejected Trump's tax bill,
00:35triggering a harsh sell-off in U.S. Treasuries.
00:37For all things money, visit Benzinga.com slash GSTV.