The bond market is flashing a signal that hasn't been present in almost two decades: the benchmark 10-year Treasury yield climbed above 5.25% on Sept. 28, 2026, cementing levels reached last week that are as high as any since the middle of 2007.
A number of factors have combined to impact the surge, including a recent Fed rate hike, fast-rising crude prices, a poorly received Treasury sale, and more.
