Weekend Edition · Aug 22 — Yields, bitcoin's surge, and a week…

Weekend Edition — the week in review. • 30-year Treasury yields hit 5.33%, the highest since 2007, as US national debt crossed $40 trillion — tightening financial conditions globally and raising debt-servicing costs. • Bitcoin surged past $75,000, triggering a $2.8 billion short squeeze and drawing $1.6 billion in weekly ETF inflows — the largest liquidation event since 2021 marks a decisive shift in crypto positioning. • Iran kept the Strait of Hormuz closed pending US concessions, threatening roughly 20% of global oil supply and reigniting inflation risks that could constrain central bank easing.