US 10-year yield jumps to 5.34% as global bond rout pushes borrowing costs higher
The US 10-year Treasury yield surged to 5.34%, its highest since 2002, amid a global bond rout. This spike reflects the largest quarterly increase in yields this century, raising borrowing costs for companies and mortgage borrowers. Analysts warn that higher rates could tighten financial conditions, potentially increasing the risk of an economic slowdown.