The US government sold 30-year bonds at the highest interest rate in a quarter century, per FORTUNE.
The yield at the $25 billion sale came in at 5.216%, the most since 2001.
Trump Considers Removing Fed Governor Cook, Raising New Political Pressure on Central Bank
"The White House says President Trump is considering whether to remove Federal Reserve Governor Lisa Cook, a move that could intensify scrutiny over the Fed’s independence. Any attempt to remove a sitting Fed governor would mark an unprecedented step and could have major implications for monetary policy and financial markets."
BOFA STICKS WITH FED HIKES DESPITE WEAK JOBS
US payrolls fell 23,000 in July, with prior months revised down by another 103,000.
Unemployment dropped to 4.1%, while wage growth slowed to 3.2% and labor-force participation slipped.
Despite weaker hiring, Bank of America still expects the Fed to raise rates by 75 basis points this year, starting in September.
BofA says inflation remains the Fed’s primary concern.