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Last Updated, Oct 23, 2023, 7:38 PM
Bond Rout Drives 10-Year Treasury Yield to 5%

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A deepening selloff in the U.S. bond market drove the yield on the 10-year U.S. Treasury note to 5% for the first time in 16 years, marking a milestone that has rattled stocks, lifted mortgage rates and fueled persistent fears of an economic slowdown. 

A critical driver of U.S. borrowing costs, the 10-year yield rose as high as 5.021% in early morning trading on Monday, up from roughly 3.8% at the start of the year. It then reversed course and settled at 4.836% after the long-awaited breach of 5% stoked fresh buying interest. 

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