Trump vs. the Bond Market

Ezra Klein talks with Robin Wigglesworth of the Financial Times about the recent rise in U.S. Treasury yields and its implications. Wigglesworth explains why yields have been climbing to levels not seen consistently since before the Great Recession, and why that matters, given the Treasury market's role as the bedrock of the global economy. The conversation covers the Trump administration's erratic and ultimately futile efforts to push yields down, and explores what continuing high yields would mean for mortgages, consumer credit, the stock market, and the broader economy.