US 10-year Treasury yield rises above 5%

The yield on the benchmark 10-year US Treasury rose above 5% on September 14, its highest level since 2023. A Treasury yield is the return investors demand to lend to Washington, and it rises when bond prices fall. Investors were weighing the risk that oil-supply disruptions could reignite inflation against the prospect that heavy US government borrowing will require a large flow of new bonds. The move matters beyond Washington: the 10-year yield helps set borrowing costs across the economy, so a sustained stay near 5% would make mortgages, business debt and other long-term financing more expensive.