The 30-year government bond hit a new high yield in the US, UK, Japan, and Germany at once. Everyone is positioned for rate cuts. The data just said the opposite.

The 30-year government bond hit a new high yield in the US, UK, Japan, and Germany at once.

The US 30-year sits near 5%, the UK near 5.5%, and Japan, pinned near zero for a generation, now pays 3.5%. Governments are flooding the market with debt, and buyers demand more yield to… pic.twitter.com/gh7OsjcExt

— Kurt S. Altrichter, CRPS® (@kurtsaltrichter) September 5, 2026

Everyone is positioned for rate cuts. The data just said the opposite.

ISM Services Prices Paid hit 72.6 in August, the highest since 2022, and it leads CPI by about 6 months. Payrolls came in at 162,000, triple the estimate.

This is the money supply showing up in the numbers.… pic.twitter.com/F7Aw1rwRKW

— Kurt S. Altrichter, CRPS® (@kurtsaltrichter) September 5, 2026

Norway's $2.3T fund just dumped $80B in US bonds. Not because they hate America—because they can do math. $40T debt. $78T unfunded liabilities. 5-7% deficits. r > g. You don't need a Nobel Prize to see where this ends; $ devaluation, aka “sticky inflation.” 🇺🇸 https://t.co/UpHHc9kYXJ

— Ben Woodward, CFA (@BennettWoodman) September 5, 2026