CNN, CNBC, and The Wall Street Journal all sensationalized last week's rise in yield on the 10-year Treasury bond to 3%.

It's a classic example of why investors are so shortsighted and poorly informed about financial economics.

A segment that aired on CNN's popular early morning program, New Day, and a video posted on CNNMoney.com reported that the benchmark 10-year Treasury yield last Tuesday hit 3% for the first time since 2014.