u/5MinutesM

This week 30-year treasury yield crossed the 5% mark for the first time since 2007. They have been higher in the 90, but back then the debt-to-GDP ratio was smaller. With U.S. debt-to-GDP already at about 120%, what are the likely economic and financial consequences if 30-year Treasury yields continue rising and remain sustainably above 5%? Is it realistic to think that, given the US high level of indebtedness, rising yields could create a self-reinforcing cycle in which larger deficits lead to more higher risk premiums, and further increases in yields? How would higher long-term borrowing costs affect things like affordability, healthcare, investment, etc.?