The last time the 10-year bond yield was this high was July 2007.
Three months later, the global financial crisis started.
The Nasdaq crashed 56% over the next 16 months.
🚨 THIS IS NOT LOOKING GOOD.
Entire US bond yield curve is going parabolic.
US01Y is at a 25-month high
US02Y is at a 28-month high
US05Y is at a 19-year high
US10Y is at a 19-year high
US20Y is also at a 22-year high
US30Y is at a 19-year high
Higher yields across the board mean higher borrowing costs for the government, businesses, and consumers, and that's bad news for both the economy and stocks.