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The bond market might be whispering, but ETF investors are already screaming back with a megaphone. While Treasury yields rise again in 2025, one theme is becoming impossible to escape: the increasing underperformance of the SPDR S&P Regional Banking ETF (KRE) against the Financial Select Sector SPDR Fund.

The 10-year Treasury yield climbed above 4.55% on Monday as bond markets remained under pressure despite President Donald Trump?s decision to delay 50% European Union tariffs until July 9. What Happened: Trump announced Sunday on Truth Social that European Commission President Ursula von der Leyen requested the extension during a phone call.

Markets were rocked this week by mounting tensions in the U.S. Treasury market after Moody's downgraded the nation?s credit rating, stripping it of its top-tier status. Investor sentiment weakened further midweek when a 20-year Treasury auction revealed soft demand, fueling concerns about future government borrowing needs.

Bank of America chief investment strategist Michael Hartnett says it's time to "buy humiliation and sell hubris," and nowhere is that more relevant than in the long-end of the U.S. Treasury market, following weeks of sharp selloff.

Japanese government-bond yields are surging, and veteran Soci?t? G?n?rale strategist Albert Edwards says the move could yank the rug from under U.S. stocks and Treasurys, warning of a potential "global financial-market Armageddon."

The U.S. House narrowly passed President Donald Trump's sweeping tax-cut bill Thursday, triggering a spike in Treasury yields as investors reacted to the bill's multi-trillion-dollar price tag and its long-term implications for debt sustainability. The yield on 30-year Treasury bonds surged to 5.15% in early New York trading, marking the highest level since October 23, 2023.

In a volatile trading session on Wednesday, the S&P 500 and Nasdaq indices faced downward pressure as Treasury yields spiked above 5%. This surge in yields led to a broad selloff, particularly impacting high-growth and tech stocks.

Shares of Lucid Group Inc (LCID) , a U.S. electric vehicle maker, fell 7% to $2.75 on Wednesday afternoon, as rising long-term Treasury yields shook investor confidence in high-growth companies. What To Know: Lucid, like many speculative growth stocks, is sensitive to interest rate changes because higher yields reduce the present value of future earnings, making such stocks less attractive.

The iShares 20+ Year Treasury Bond ETF, a closely watched gauge of long-term U.S. government debt, fell 1.7% on Wednesday to its lowest level in six months. The selloff also reflects deepening concern over America's fiscal trajectory, with long-term yields rising in the wake of Moody's recent downgrade of U.S. sovereign credit.

Mortgage rates have jumped to their highest level in three months as U.S. Treasury yields, driven by rising deficits and fiscal policy fears, push the 30-year benchmark above the critical 5% mark. According to the latest Mortgage Bankers Association report, mortgage application volumes in the U.S. dropped 5.1% for the week ending May 16, the steepest decline in a month.