Treasury Yields Refuse to Drop Despite Iran Deal Optimism Collapsing Oil Prices

What was said

"If it's the war that is the reason that bond yields are high, it's not the war. The war is not what's driving it. It's the debt. We have to constantly convince our creditors to loan us more money. We have never been in this type of predicament in the past where we had to pass that hat around so often and beg for so much money to be put into it."

Schiff points out that despite oil falling $10 and widespread optimism about the Iran war ending, the 10-year Treasury remains at 4.5% and the 30-year above 5%. He argues this proves the war is not the cause of high yields—the unprecedented $39.3 trillion debt is, with the US needing to borrow nearly $20 trillion annually between rollovers and new deficits.