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Peter Schiff, CEO and Chief Global Strategist of Euro Pacific Capital, warns that the yield on 30-year U.S. Treasuries has risen above 5 percent, approaching its highest level in twenty years.
According to Schiff, the pace of increase could accelerate, with moves from 5 percent to 6 percent and from 6 percent to 7 percent expected to happen more rapidly. He highlights that with current high levels of U.S. debt, further rises in yields could trigger an economic crisis.
Schiff previously pointed to the U.S. dollar’s retreat below 98, suggesting added upward pressure on oil prices and bond yields in a recent analysis. He has also commented on cryptocurrency markets, noting Bitcoin’s 30 percent decline since last year’s conference and calling digital credit the latest speculative hype in earlier remarks. These observations follow Schiff’s ongoing focus on asset price movements.