Here we go again: The 30Y Note Yield just crossed back above 5.00% for the first time in a month. The 10Y Note Yield is nearing 4.50% and less than 15 bps below levels seen when Trump paused tariffs for 90 days in April. CPI inflation is back on the rise and Fed rate cuts are being priced-out. All while the US is flooding the bond market with supply to fund deficit spending. You can only ignore the bond market for so long.