Treasury yields hit record highs as global leaders clash at a fractious G-20 summit in the Blue Ridge Mountains. Investors expected unity on economic challenges, but the meeting devolved into trade disputes, public insults, and a photo-op controversy. Treasury Secretary Scott Bessent claimed the U.S. can grow its way out of a $40 trillion debt burden, though feuds over trade with Canada and Russia's presence sidelined economic discussion.

Amid market volatility, 10-year Treasury yields surged 15 basis points to 4.7%, reflecting heightened risk aversion. Volkswagen faces internal turmoil as its board battles for survival amid declining sales and EV transition pressures. Meanwhile, a grim legacy of wartime ‘coffin money’ continues to impact Russia’s poorest regions, where compensation for deceased soldiers’ families remains scarce.

The summit’s breakdown underscores deepening geopolitical rifts. As Treasury yields spike, investors brace for prolonged market turbulence, with no clear path to fiscal coordination. The G-20’s failure to address debt sustainability or trade tensions highlights a widening gap between global economic realities and political will.

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