Bond yields just hit 'yippy' levels last seen during the post-Liberation Day meltdown

(Credit: Chip Somodevilla—Getty Images)

• The 30-year Treasury yield topped 5% on Monday as bonds sold off after the Moody's downgrade of the U.S. credit rating renewed U.S. debt concerns. Meanwhile, Republicans in Congress advanced a bill that is estimated to add trillions of dollars to the budget deficit, worsening the fiscal situation that Moody's warned of.

Long-term U.S. bonds sold off on Monday, lifting yields to levels seen after President Donald Trump spooked markets with his April 2 tariffs.