10-year Treasury yield climbs to 5% for the first time since 2023

The US 10-year Treasury yield, which serves as a global benchmark for borrowing costs, has reached 5%. This represents the highest level recorded since 2023. According to Bloomberg, this increase in the yield could potentially lead to a hike in the price of money on a global scale. The climb to 5% marks a significant shift in Treasury yields, impacting borrowing costs worldwide as the benchmark hits this multi-year peak for the first time.