30-YEAR TREASURY YIELD NEARS 24-YEAR HIGH

The 30-year Treasury yield climbed to nearly 5.7% on Monday, its highest level since 2002, as the bond selloff that began in March deepens. Yields are now up more than 100 basis points since early March, yet the S&P 500 ($VOO) is holding near record highs, up 0.65% on the day. Stocks and bonds are no longer moving together.