The market is giving off a series of alarm bells and no one is paying attention.

On May 13th, the U.S. Treasury auctioned 30-year bonds at a yield higher than 5% for the first time since 2007.

And just six days later, the yield climbed even higher.

Bank of America's top strategist calls a 5% yield the Maginot line,

named after the supposedly impenetrable wall,

France built to keep Germany from invading during World War II.

And we all know how well that worked out.

Now, the financial version has just been totally trounced.

And B of A is saying, the door to doom has opened.

The statement is hyperbolic, but possibly all too accurate.

And the hits just keep on coming.

Japan's 30-year bond also hit its highest yield in history.

The UK's 30-year bond is at the highest since 1998, and Germany's 10-year bond is at a 15-year

high.

A bond blip in one country wouldn't be the end of the world,

but this many blips happening everywhere all at once, this is becoming very hard to ignore.

Every previous time we've lived through a version of this story where one country is breaking, the others have been

stable, so capital has always had somewhere safe to run, but not this time. And the stock

market hasn't priced in any of this distress. The S&P, despite what's going on, just hit fresh

record highs.

The bond market is screaming, but the stock market is partying, and they cannot both be right.

In three blunt and brutal parts, I'm going to show you why the bond market is screaming,

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