Market 08/21: Bond yields hit record high ahead of Jackson Hole

10-year bond yields hit record high. Mortgage rates rise to highest level in over 20 years

10-year bond yields rise to 4.34%, highest since November 2007.

Cash flows into Treasury bonds on track to hit record $206 billion in 2023, up 20% from 2022, pulling liquidity out of other markets including corporate credit and stocks.