Bond yields and mortgage rates are jumping to multi-decade highs, which is bad for stocks, homebuyers, farmers, and anyone paying to heat their home this winter.

• Government bond yields pushed past 5%, a level that usually drags stocks down, and they are now at their highest in about two decades.
• Mortgage rates climbed back above 7%, the worst in more than two years, as oil prices rose and bets on rate hikes grew.
• Louisiana declared a state of emergency so farmers can burn off-road diesel during harvest, a stopgap that does nothing about the underlying fuel shortage.
• The war and the shipping blockade are the real driver of high fuel costs, and a proposed US diesel export ban would not bring prices down near-term — even Trump-aligned energy voices call it election politics.
• Iran says it is open to talks but wants the blockade, bombing, and sanctions to stop first, while some Trump supporters publicly push for martial law around the midterms.

Outlook: Expect fuel, heating, and borrowing costs to keep climbing until the conflict eases, with more band-aid emergency measures in the meantime.