Treasury Yield Breakout Raises S&P 500 Risks As Trump Weighs 'Massive' Attack

Treasury yields have climbed to 18-month highs this week as the widening U.S.-Iran conflict boosts oil prices, inflation fears and the likelihood of additional Federal Reserve rate hikes in coming months. Markets have come to count on TACO — short for "Trump always chickens out" — with Trump putting economic growth, the stock market and election concerns over "Liberation Day" tariffs and defeating Iran.