The benchmark for U.S. borrowing costs has climbed at a rate alarming to investors
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, extending a rout 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 to within a few thousandths of a percentage point of 5% last week following an unexpectedlyThis copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.
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