Interest rates shot up Wednesday, and the US government’s 10-year bill exceeded a 3 percent yield, again.

Why did rates jump?

Mainly because President Trump’s decision to pull out of the Iranian nuclear deal has traders worried that the price of oil will surge. Another reason is that the Treasury Department needs to borrow more because of our country’s out-of-control debt.

But interest rates rose despite the fact that the Labor Department said producer prices rose just 0.1 percent in April. That was below expectations.

By now, my readers know that the Labor Department numbers are hokey.

For instance, deep in the report, the department lets on that it thinks gasoline prices fell 0.4 percent between March and April. You show me where gas prices dropped over the past month or so, and I’ll rush over to that station with my tank on “E.”