Treasury yields hit multi-year highs as inflation fears grow

Treasury yields have reached multi-year highs, with the 30-year yield at 5.20% and the 10-year near 4.6%, driven by inflation fears. This rise in yields is increasing borrowing costs for mortgages, corporations, and consumers, while providing investors with better returns compared to equities. Despite price drops, bond ETFs experienced record inflows as investors anticipate future rate declines and seek income opportunities.