Home Market Outlook Today's Market Summary US long-term bond yields breaching 5% signal diminished Fed control and rising refinancing costs, threatening fiscal sustainability and economic growth. Persistent fiscal deficits, surging debt service costs, and elevated yields force the government toward either spending cuts or accepting higher debt risk. Household and corporate debt stress is mounting, with credit card and auto loan delinquencies nearing crisis levels, while mortgage delinquencies remain low. Geopolitical risks, commodity inflation, and competition from hyperscalers' debt issuance further pressure US yields, making a return to lower rates unlikely. Love Employee/iStock via Getty Images Why the 5% Threshold is Dangerous Last week, the US 30Y Bond Yield reached 5%, while the US 10Y Bond Yield was close to touching 4.50%.…