Unbelievable.
— The Kobeissi Letter (@KobeissiLetter) September 24, 2026
3 hours later and the 10Y Note Yield is now above 5.20% for the first time in 19 years.
The 10Y Note Yield is now up +50 basis points in 30 days and +30 basis points in 2 days.
Even more remarkable is that the average American has no idea this is happening. Yet.… pic.twitter.com/p5BOJfVIEy
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Retirees will notice as they sell shares in Bond Funds to fund their retirement, those over 73 HAVE to sell a % yearly.
As lower rate bonds LOSE VALUE compared to new issues.
They will notice when every loan costs more (as these rates set the baseline for other loans) and down payment requirements go up and in general loans will be harder to get.
Aside from Gov.com “meddling” to be “Fair” to low credit score folks (and I remember the house mortgage disaster THAT created).
America will NOTICE when they roll over currently CHEAP 1% (10 year) or so T-bills into the New Rates.
U.S. Debt Roll‑Over in the Next Two Fiscal Years
In fiscal year 2025, Treasury refinanced about $9.1 trillion of maturing debt, and GAO projects that roughly a third of total U.S. debt — around $10 trillion — will mature in 2026, with similar scale refinancing expected in 2027
files.gao.gov
ONE Third of our cheap about 1% interest debt is rolling over into a much higher rate short term 3.88 + and such.
That 40 trillion national debt is going to get really expensive to pay interest on.
Current cost to service the 40 trillion national debt WAS
SNIP As of late September 2026, the U.S. government is paying about $2.88 billion per day — roughly $1.05 trillion a year — in net interest on the national debt, with a weighted average interest rate of about 3.49%
Cue Trump yelling at the Fed to LOWER RATES when it’s the Market (International and Domestic) that set the rates.
Treasury Secretary, Bessent tried to force the issue, but NO BUYERS showed up at HIS decided rates.