US sells 30-year bonds at 5% yield for first time since 2007

The US government sold 30-year bonds at a 5.046% yield, the highest since 2007, amid rising inflation linked to the conflict in Iran. Treasury issued $25 billion in new bonds as wholesale inflation surged to 6% in April.

Fuel prices are rising, impacting costs for businesses nationwide. Susan Collins from the Federal Reserve hinted at potential interest rate hikes to manage inflation. Higher costs are affecting everything from groceries to airfares, with freight transportation prices up 8.1% in April.

Experts warn inflation pressures will persist, indicating economic challenges for consumers and the broader market.