THE TREASURY PAID 5.618% TO BORROW FOR 30 YEARS — THE HIGHEST 30-YEAR AUCTION YIELD SINCE AUGUST 2000 — THE SAME DAY, CBO PRICED WHAT HIGHER RATES DO TO THE DEBT

On October 8, 2026, the Treasury sold $22 billion of 30-year bonds at a high yield of 5.618%, its auction results show. That is the highest yield at a 30-year auction since August 10, 2000, when it was 5.697%, according to TreasuryDirect’s records. The same bond sold at 5.308% on September 10 and 5.216% on August 13.

The same day, the Congressional Budget Office ran what higher rates cost. If every rate runs 150 basis points above its baseline from 2026 to 2036, deficits come out $6.0 trillion larger, and debt held by the public reaches 133.1% of GDP in 2036, against 120.2% in the baseline. Even 50 basis points adds $1.9 trillion.

Look at how the $6.0 trillion is built. $4.9 trillion is higher interest on debt already projected. $1.1 trillion is interest on the extra borrowing that the higher interest forced. A government that borrows to pay interest pays interest on the interest. Lenders asked 5.618% a year to hold 30 years of that promise.

Bitcoin’s supply does not answer to an auction calendar. Its issuance is set in the code and checked by every node. The dollar’s supply answers to the deficit, and the deficit now answers to the bond market. At the time of this writing, bitcoin was $81,737.