3 October 2023
The 10-year Treasury yield has spiked to its highest since 2007 at 4.727%, stirring concerns among investors and igniting discussions among “bond vigilantes” over the potential negative impacts of the U.S.’s soaring public debt, which has now exceeded $32.3 trillion. Despite avoiding a government shutdown, uncertainties regarding Federal Reserve interest rate hikes and upcoming labor market data are fueling apprehensions about the U.S. economic outlook and fiscal stability.