The Benchmark U.S. Treasury Yield Topped 5% For The First Time In Years. Odds Of a Rate Hike Climbed Further.

The benchmark 10-year Treasury yield hit 5% for the first time since 2023 on Monday, getting closer to the highest level since July 2007. (Credit: AFP via Getty Images/Saul Loeb)

The benchmark 10-year Treasury yield hit 5% for the first time since 2023 on Monday, getting closer to the highest level since July 2007. The note then pared the climb, going back below the threshold.

CNBC noted that, should the yield continue climbing and hit 5.02%, it would reach the highest level since July 2007, before the Global Financial Crisis of 2008 and 2009.