COMMENTARY: Can Wall Street keep partying while bond markets burn? ↧ ↧ COMMENTARY: Can Wall Street keep partying while bond markets burn? There is a conundrum at the heart of US financial markets right now, it seems. Bond market fears are reaching fever pitch, catapulting Treasury yields to their highest levels in at least 20 years, yet the Nasdaq and S&P 500 are hitting record peaks. What gives?