30-Year Treasury Yields Hit 5%: Trump's Interest Bill Balloons To $1.2 Trillion

The yield on the 30-year US Treasury bond has retaken the 5% mark for the third time in less than three years, and this time the bill is arriving in plain sight: Washington is now spending roughly $1.22 trillion a year servicing its debt, the equivalent of over 4% of GDP and a level the United States has not paid out in interest since the early 1990s.
Long-end yields traded at 4.99% intraday on Tuesday after closing above 5% on Monday, just 8 basis points away from a fresh 18-year high. 
The S&P 500 – as tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY) – is still pinned near record territory. The bond market and the equity market are telling two very different stories, and the gap between them is becoming harder to ignore.
‘The 5% Maginot Line’
The 5% mark carries weight for reasons that g