Part 4/11:
The immediate market response was swift and telling. Before the US markets even openedMonday, equity futures in Asia declined sharply, the dollar slipped, and Treasury yields surged. The 10-year treasury yield jumped three basis points to 4.5%, nearing the 5% threshold for the first time in 16 years, while 30-year yields approached 5%. These movements are indicative of a nervous investor base, increasingly concerned about the US’s fiscal trajectory.