U.S. bond selloff drives 30-year yields to highest point since before the Great Recession

Macroeconomic Trends & Debt - The 30-year U.S. Treasury bond yield reached its highest level since 2007 due to inflation concerns and government borrowing [1][2] - The federal deficit is approaching $2 trillion ($2,000 billion) this year, with total federal debt nearing $40 trillion ($40,000 billion) [4] - Long-term interest rates are rising globally, including similar trends observed in Japan [4][5] - Inflation remains above the Federal Reserve's target, with the core Personal Consumption Expenditures (PCE) index around 3.3% compared to the 2% benchmark [11] Corporate Sector & Financial Markets - Corporate sectors are experiencing a boom with record profit margins and stock market highs, driving overall economic growth around 2% [13] - Companies are receiving tens of millions of dollars in refunds from the government following Supreme Court rulings against certain tariffs [15] - U.S. tariff costs were largely absorbed into corporate profit margins, resulting in companies using tariff refunds to further pad their profit margins [16] Labor Market & Consumer Impact - Average hourly earnings remain flat or slightly negative when adjusted for inflation due to sticky price increases [14] - The labor market shows signs of a "jobless boom," featuring zero job growth in July and negative job growth in five of the past 12 months [17][18] - Tariffs on Canadian goods were threatened to reach as high as 50% by midnight, though expectations suggest diplomatic resolution or legal challenges will prevent implementation [19][20]