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Federal Reserve Chairman Jerome Powell and US Treasury Secretary Janet Yellen
Federal Reserve Chairman Jerome Powell and US Treasury Secretary Janet Yellen participate in a meeting of the Financial Stability Oversight Council at the US Treasury on July 28, 2023 in Washington, DC.
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Traders work on the floor of the New York Stock Exchange during morning trading on May 17, 2023 in New York City.
Traders work on the floor of the New York Stock Exchange during morning trading on May 17, 2023 in New York City.
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Experts say the bond market pain is going to get worse before it gets better.
Experts say the bond market pain is going to get worse before it gets better.
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A bond trader shouting on the phone.
The bond market has been suffering as yields continue to climb. The 30-year Treasury surpassed 5% for the first time in decades, with experts seeing a similar path ahead for the 10-year note.
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trader upset panic screen
Bond markets have been in a frenzy since Powell and the Fed signaled higher for longer interest rates at last month's FOMC meeting.