Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon. Today is Tuesday, May 5th, and I'm your host, Kim Khan. Our top story so far, global borrowing costs continue to climb as elevated oil prices fuel expectations that central banks may need to tighten policy

to contain renewed inflation pressures. In the UK, long-term government borrowing costs have hit

their highest level in nearly three decades. The 30-year guilt briefly top 5.8%, the highest since

1998, before easing back as traders priced in two to three quarter point rate hikes from the Bank of England this year.

Economist Jim Bianco highlighted the move. On September 27, 2022, the UK 30-year yield hit 4.99%. This was so intolerable

that Prime Minister Liz Trust was forced to resign. Today, the UK's 30-year yield is 77 basis points higher.

In the U.S., the 30-year

treasury yield recently moved back above 5% for the first time since July, underscoring persistent

pressure in the world's largest bond market. Ten-year U.S. inflation expectations have also climbed

at the highest level since 2023. You can see how 30-year yields across major economies compare

in our story on Seeking Alpha.

Also on the economic front, U.S. job openings declined to 6.866 million in March, from 6.922 million in February,

according to the latest Joltz report.

That was above the 6.656 million consensus, suggesting labor demand is cooling but not collapsing as the Iran war clouds the outlook.

The job openings rate edged down to 4.1% from 4.2, the quits rate ticked up to 2% from 1.9,

a modest sign of continued worker confidence.

Pantheon macro noted that openings are running about 3% below their 2025 average,

with government openings down 8.6% and private openings off 2.4.

The firm added that unofficial indicators still point to fading labor demand, potentially at a

faster pace, since tensions in the Middle East intensified. Among active stocks, Duolingo is slipping,

despite better than expected Q1 results, as a softer growth outlook and stepped-up investment

...