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The 30-year U.S. Treasury bond yield briefly rose above 5% on Thursday.
The 30-year U.S. Treasury yield briefly surpassed 5%, a level termed the 'Maginot Line' by BofA.
KEY POINTS
- A U.S. naval blockade has kept the Strait of Hormuz shut, with no clear timeline for reopening.
- Western Texas Intermediate crude hit $103 a barrel, driving gasoline prices up to $4.30 per gallon nationally.
- The U.S. may offer currency swap lines to Middle Eastern and Asian nations holding $3.8 trillion in Treasurys.
- Strategist Hartnett warns a decisive break above 5% yield could trigger an asset bubble burst.
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