The 10-year Treasury just hit a 16-year high of 4.5%, which – if sustained – is basically catastrophic for long-term federal deficits. This is much more important than the vast majority of daily politics and culture fights getting most of the media's attention. pic.twitter.com/2CBNEOOWZh

— Brian Riedl 🧀 🇺🇦 (@Brian_Riedl) September 25, 2023