10-year Treasury yield hits 5 percent

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The 10-year U.S. Treasury bond yield briefly surpassed 5 percent during Monday trading, reaching 5.014 percent. This event marks only the second time in 19 years that the yield has hit this level. Driven by rising diesel prices, the surge could lead to increased borrowing costs for auto loans and mortgages. By mid-afternoon Monday, the yield declined to 4.961 percent, remaining nearly 1 basis point above its opening value for the day.