NPR. This is The Indicator from Planet Money.
I'm Adrian Ma.
And I'm Waylon Wong.
The bond market recently gave us a good scare.
This is after...
This is after President Trump's Liberation Day announcement last month.
You may remember that there was a sell-off in U.S. government bonds.
Yeah,
and that was alarming
because U.S. treasuries are usually this safe haven in times of economic uncertainty.
These bond market jitters reportedly spooked Trump so much that he paused some of his big tariff plans.
And the scariness of what happened with treasuries has actually stayed with us,
like the lingering dread you might feel after watching a horror movie.
I'm still sweating, Adrian.
So today on the show, we confront our fears about the bond market.
We enter a twilight zone of nightmare scenarios for U.S. treasuries.
Come with us, if you dare, after the break.
The U.S.
Treasury market is massive.
We're talking almost $30 trillion worth of outstanding bonds.