Morning Call Sheet: Rising yields and $40 trillion debt test the rally

• Treasury's 'Operation Twist' aims to ease rising rates, but its long-term impact on the $40 trillion national debt is debated.
• Bitcoin, Gold, and Copper show technical breakouts, while homebuilders like Toll Brothers and Lennar exhibit strength.
• Consumer spending remains resilient, as evidenced by Target's performance, with upcoming Walmart earnings providing further insights.
• The AI boom is benefiting companies beyond traditional tech, including Walmart, Deere, and Caterpillar, driving productivity gains.

The discussion covers the Treasury's efforts to manage rising rates and the implications of the growing national debt. Analysts highlight strength in commodities, homebuilders, and the broader impact of the AI boom on various industries, alongside insights into consumer spending from major retailers.