US Treasury Yield Hits 5% Then Falls Back
The 10-year US Treasury yield reached 5% on Monday. CNBC, Bloomberg and Financial Times said it was the highest since 2023.
But MarketWatch reported the highest level since 2007. Bloomberg said this yield is a global benchmark for borrowing costs.
The yield moved lower after reaching this multiyear high according to CNBC. This happened ahead of this week's Federal Reserve interest-rate decision.
Klear Note — The 10-year Treasury yield is a global benchmark for borrowing costs.
Key Terms 3
- Treasury yield The interest rate the US government pays to borrow money for 10 years.
- Federal Reserve The US central bank that sets interest rates for the country.
- benchmark A standard rate used to compare or set other borrowing costs.