Treasury bond massacre, mortgage rates hit 5.35%, highest since 2009, and its only April

Wolf Street/Wolf Richter/4-19-2022

“The interesting thing is that no one at the Fed is trying to talk down those spikes in Treasury yields and mortgage rates. It shows that those yields are going where the Fed wants them to go, and that the Treasury market is coming around to the Fed’s rate-hike plan, and that those yields have a long ways to go, given that CPI inflation is 8.5%, a gigantic mess that has unfolded over the past 15 months, finally, after 12 years of money-printing.”

USAGOLD note: The low down on the bond market massacre and rising rates – cause and effect without the media spin.