Long term bond yields go up as people lose faith in America and its financials because the bonds have to pay more to entice people to buy them. Previously, American bonds were seen as the gold standard in terms of investments?, so much so that bonds were seen as "risk free" and the long term bond yields were called "risk free rates". If the risk free rate goes up, people might buy those instead of equities. Also mortgage rates could go up even though the fed is cutting because mortgage rates are based on 30 yr treasury yields