United States: Donald Trump has caused the rate of 30-year public debt to soar

The 30-year US bond was trading at a rate of 5.09% at the close of trading on Wednesday, May 21, and at 5.146% at the opening on Thursday, May 22. A level not seen since 2007.

This rate depends on the behavior of investors who have purchased government debt, sold in the form of bonds. For 30-year securities, they act based on their very long-term expectations. If they believe the risk of default in the future is increasing, they will tend to sell the bonds they own, which raises the rate. Recently, the financial community's distrust of Donald Trump appears to have increased, as evidenced by the loss of the triple-A rating on US debt by the rating agency Moody's on Friday.

This distrust dates back to Trump's " Liberation Day " in early April, the day Trump announced a surge in US tariffs for most of its economic partners. The 30-year bond then entered a bullish phase. But today, it's mainly the discussions and the anticipation of a congressional vote on the " Big Beautiful Bill ," another law Trump wants to pass, that are giving investors the shivers. The first part of this law drastically cuts social spending,