Treasury yields are spiking to levels not seen in over 15 years, causing sell-offs in many of the market's biggest bond funds.
The iShares 20+ Year Treasury Bond ETF (TLT) closed at $89.18 on Monday, which was its lowest close since Feb. 10, 2011, according to FactSet.
The Fed's target interest rate is already above 5%, as are short-term Treasury yields.
But the long-term decline in bond yields began roughly two decades before that.
That trend may finally have reached its turning point, Jim Grant, founder of Grant's Interest Rate Observer, said Tuesday on CNBC's " Squawk Box ."
Persons:
Bruno Braizinha, Braizinha, Goldman Sachs, Cecilia Mariotti, Mariotti, Ajay Rajadhyaksha, Jonathan Krinsky, Jim Grant, Grant, BTIG's Krinsky
Organizations:
Treasury Bond ETF, iShares, Aggregate Bond, Treasury, Bank of America, Barclays, Federal