Why Trump’s Big Beautiful Bill could bring a reckoning to the bond market

Wild movements in the bond market have been one of the biggest stories on Wall Street in 2025. In part, the climb in yields on US debt has reflected rising concerns about the country’s fiscal position. Those worries have now been compounded by a new Trump tax bill that promises to add trillions to the US’s already bloated deficit. While professionals say investors haven’t lost trust in the US’s ability to honor its debt, they will continue to demand higher yields to compensate for the rising risk. That could have major ramifications in markets for everything from the demand for Nvidia’s (NVDA) stock to housing. Yahoo Finance executive editor Brian Sozzi talks on the Opening Bid podcast with BlackRock (BLK) Global Chief Investment Officer of Fixed Income Rick Rieder, one of the top minds in the bond market. Rieder reveals his latest thinking on fixed income as he manages $2.7 trillion in assets at BlackRock. Rieder also weighs in on the outlook for stocks in the face of what could be higher interest rates for longer from the Federal Reserve. Yahoo Finance's Opening Bid, brings you a high-octane take on the freshest analyst calls, wildest stock moves and shrewdest commentary in the business world. Executive Editor Brian Sozzi puts Wall Street's finest through their paces in this essential conversation for every investor - before the stock market opens. Find this episode's transcripts and more episodes of Opening Bid at http://finance.yahoo.com/videos/series/opening-bid/. Thoughts? Questions? Fan mail? Email us at [e-mail]. Yahoo Finance's Opening Bid is hosted by Brian Sozzi, and produced by Langston Sessoms Learn more about your ad choices. Visit megaphone.fm/adchoices