US 30-Year Treasury Yield Tops 5.18% as $39 Trillion Debt Fuels Bond Selloff

3 articles · Updated · Crypto Briefing · Jun 13

Thirty-year Treasury yields climbed above 5.18%—their highest since 2007—while the 10-year rose to about 4.6%-4.7%, lifting borrowing costs across mortgages, stocks and crypto.
A mix of Iran war-driven oil gains, a 6.5% year-over-year jump in May US producer prices and concern over $39 trillion in federal debt accelerated the selloff in government bonds.
Annual US interest costs are nearing $1 trillion, reinforcing a feedback loop in which higher yields raise debt-service costs, widen deficits and force more borrowing that can push yields higher still.
Bitcoin was hit by the risk-off shift, with more than $1 billion in ETF outflows in one week in May, while tokenized US Treasuries grew to over $15 billion in on-chain value from $5 billion 14 months earlier.
The pressure is global: average 10-year borrowing costs across G7 countries have risen to about 4% from roughly 3.2% before the Iran conflict escalated, with Japan also under strain.

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MIKE NOVOGRATZ: THE DEBT WILL BE INFLATED AWAY, With U.S. debt above $40 trillion, he says the only realistic path is sustained inflation., That's exactly why investors continue to look at Bitcoin, ...

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As investors flee to tokenized US debt for safety, is the sheer scale of that debt the ultimate systemic risk?

Crypto was touted as an inflation hedge. Why are investors now abandoning it for the very government debt it sought to replace?

With inflation and deglobalization ending the cheap money era, what new strategies will define investing for the next decade?

America at a Fiscal Crossroads: Surging Treasury Yields, Exploding Debt, and the 2026 Economic Reckoning

Overview

In mid-2026, the United States faces a critical fiscal moment as its national debt and borrowing costs surge. The average interest rate on outstanding Treasury notes is about 3.23%, but this masks a sharper rise in costs as older, lower-rate debt matures and must be refinanced at much higher rates. This cycle of refinancing at elevated yields is rapidly increasing the government’s overall fiscal burden. The surge in Treasury yields not only reflects these higher borrowing expenses but also signals growing risks for the nation’s financial stability, making it harder for the government to manage its debt sustainably.

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