Trump Succeeds at Pushing NATO to Spend Five Percent as New Arms Race Begins

Published on July 1, 2025

Readers of a certain age will no doubt recall President Ronald Reagan launching one of the most ambitious military buildups in American history.

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The 10-year Treasury yield has experienced dramatic fluctuations, ranging from a peak of 15.68% in October 1981, during the height of the Volcker era, to a historic low of 0.55% in August 2020, amidst the economic uncertainty of the pandemic. At the end of June 2025, the weekly average stood at 4.30%.