Defying higher bond yields: Consumers keep spending and the economy keeps booming - Yahoo Finance — SkimNews
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- The 10-year Treasury yield has reached its highest level in nearly two decades, per CNBC's account of how yields arrived at this point.
- Consumer spending continues to defy surging bond yields and keep the economy booming, per Yahoo Finance, while Bloomberg notes bond investors are encountering market conditions many have never seen before.
Why it matters: Treasury yields sitting at their highest in nearly two decades would normally tighten financial conditions sharply, yet Yahoo Finance reports the economy keeps booming on consumer strength — a divergence that gives the Fed cover to keep rates higher for longer and pressures bond holders counting on relief.
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