Wells Fargo borrowed $196B to stay in business. 30-year yield hit 5%. Nvidia overbought. S&P 500 flashing 2008. Bonds may rip.
The 30-year Treasury yield just pierced the 5% ceiling again. That line has held for two decades. Every time it’s tested, the bond market snaps back. April 6 was the last time it happened. Stocks dipped. Bonds rallied. Today looks like a rerun. The yield hit 5.01% before retreating to 4.91% by close. That’s the …