People walk past the U.S. Department of the Treasury in Washington, D.C., the United States, Aug. 24, 2026. (Xinhua/Li Rui)
The yield on the benchmark 10-year US Treasury note rose to 5.04 percent in early trading on Tuesday, the highest level since July 2007, signaling higher borrowing costs across the broader US economy.
Higher oil prices, prospects of persistent inflation and expectations of further interest rate hikes have been seen as factors driving up yields on U.S. Treasury bonds in recent days.
The relentless upward march in bond yields this year translates directly into heavier financial burdens for consumers seeking to buy homes, finance vehicles or take out personal loans. It simultaneously drives up the cost of capital for businesses and increases debt-servicing costs for the U.S. government itself.
The global bond market, anchored by the nearly 32-trillion-U.S.-dollar…
