30-Year Treasury Yield Hits 19-Year High During Warsh Press Conference

During Fed Chair Kevin Warsh's July 29 post-FOMC press conference, the 30-year US Treasury yield jumped as much as 14 basis points to nearly 5.23% — a 19-year high. The Dow fell over 2%. Investors lowered near-term hike odds yet pushed long-end yields higher, deepening the yield curve's bear steepening. Jeffrey Gundlach said the bond market is signaling the Fed must act on inflation.