• The yield on US 30-year Treasurys rose above 5% on Monday.
• The increase follows Moody's downgrading of the US credit rating on Friday.
• Stock futures are down in premarket trading.

Yields on Treasurys jumped on Monday after Moody's downgraded the US' credit rating from Aaa to Aa1 and President Donald Trump's sweeping tax-cut bill passed a vote on Sunday.

The return on 30-year Treasurys rose as much as 0.13 percentage points to 5.03% as at 5:30 a.m. ET to the highest level since late 2023.

The 10-year yield also rose about 10 basis points to 4.5%. When yields rise, the price of the bond decreases.

"If we stay at these levels this would be a higher yield than that seen at the worst close after Liberation Day," Jim Reid, managing director and head of global macro and thematic research at Deutsche Bank, said in a note on Monday.

The previous triple-A rating signified that an economy poses minimal risk and is in a good position to repay its debts. Aa1 is the second-highest rating and indicates a country is subject to very low credit risk. Other countries with the top rating include the European Union, Canada, and Germany.

"Successive US administrations and Congress have failed to agree on measures to reverse the trend of large annual fiscal deficits and growing interest costs," Moody's said in a statement.

The ratings agency said it expected federal debt to rise from 98% of gross domestic product in 2024 to about 135% by 2035.

S&P was the first agency to downgrade the US from the top score in August 2011.

"The combination of diminished appetite to buy US assets and the rigidity of a US fiscal process that locks in very high deficits is what is making the market very nervous," George Saravelos, Deutsche Bank's head of FX research, said in a note on Monday.

He added that a key problem for the US was bond and currency markets failing to properly price in fiscal risks.

S&P 500 futures fell more than 1% in premarket trading, while Nasdaq futures were down more than 1.5% and Dow futures shed close to 1%.

"US-related stocks and investment trusts dominated the list of losers on Monday morning in London, while precious metals miners were higher as gold and silver prices moved up and the dollar weakened," AJ Bell investment director Russ Mould wrote in a Monday note.

"Significantly, the US 30-year Treasury yield flashed a warning signal as it hit the 5% mark for the first time since April, with the proposed tax cuts making their way through Congress, expected in some quarters to increase the US deficit."

Influencer Emilie Kiser’s 3-year-old son, Trigg, has died.

Us Weekly confirmed via the Chandler, Arizona, Police Department on Sunday, May 18, that the child passed away “earlier this afternoon.” He was pulled out of a backyard pool on the evening of Monday, May 12.

The statement to Us continued, “The investigation into the circumstances surrounding this incident remain ongoing. This is still an open investigation. Out of respect for the family’s privacy, we will not be releasing additional details until the investigation is closed.”

Chandler Fire Department told Arizona’s 12 News on Wednesday, May 14, that a 3-year-old boy was in critical condition after being discovered. According to the department, police officers got to the residence first and began CPR on the unconscious boy before firefighters arrived and took over.

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The boy was then flown to Phoenix Children’s Hospital for treatment.

While the boy was not identified initially, rumors began to circulate online that suggested the boy could be Kiser’s son after her followers noticed the popular influencer, who is located in Arizona, had not posted a TikTok video in more than two days.

“Emily i hope you are okay. i feel sick!! ,” one follower wrote in the comments section of Kiser’s latest morning routine TikTok video that featured Trigg, her newborn son, Teddy, and husband Brady.

“Please be a bad rumor I’m sick,” another person said, while a third added, “I’m sending you so much love Emily. ”

Kiser, who has amassed 3.1 million followers on TikTok and more than 1 million on Instagram, is known for her relatable videos on the day-to-day experiences of being a wife and mother.

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After welcoming Trigg in July 2021, Kiser and Brady announced they were expecting baby No. 2 in September 2024.

“WE GOTTA BABY GROWING,” Kiser wrote via Instagram alongside a photo of herself with Brady and Trigg holding a sonogram photo. “We can not wait to add another angel to our family. Whatever you are, we love you so much already.”

The couple welcomed son Teddy in March, which Kiser announced via Instagram. “We love you so much and our hearts feel like they are going to burst,” she wrote at the time, sharing a series of photos from the hospital birth. “I am so grateful for a smooth delivery, a healthy baby, and the best husband. Could not have done it without my rock @bradykiser. The love I have for my boys is infinite.”

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‘While [I] definitely agree that Biden’s declining mental acuity was covered up, it is medically reckless to assume his prostate cancer was as well,’ stated North Carolina Congressman Greg Murphy, M.D.

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OWC has just announced their new CalDigit E5 in the market. The OWC dock is set to start shipping in July.

Thunderbolt 5 enables higher bandwidth, which allows the OWC dock to sport three daisy-chained Thunderbolt 5 ports, as well as power things like 2.5Gb/s Ethernet, and feed multiple high-res external displays.