Treasury bonds continued to rise, with 5- and 10-year Treasury yields hitting their lowest levels since March.
Elon Musk warned in an X post on Thursday that the dollar would one day be worthless if US debt continued to grow. "We need to do something about our national debt or the dollar will be worthless," he wrote. One user commented: "The problem is that no government is willing to take on the national debt problem because a long-term solution could hurt the economy in the short term." Musk responded: "Well, there's always something to give up. We should at least slow down debt growth."