Treasury Intervenes as Bond Market Panics at $40 Trillion Debt
The U.S. bond market convulsed as the national debt crossed the $40 Trillion mark, sending yields higher, pushing borrowing costs up, and forcing a rare Treasury intervention as markets questioned the sustainability of Washington’s fiscal path. Markets reacted violently when the national debt reached $40 Trillion, with long-term Treasury yields spiking and investors dumping lower-quality...