10-year Treasury yield touches 5%, highest since before Great Recession

The yield on the 10-year Treasury note briefly eclipsed 5% this week amid signs that the Federal Reserve might end up keeping interest rates high for longer, portending higher borrowing costs for the federal government and for households.

Benchmark 10-year Treasury yields briefly reached as high as 5.029% this week, up about 1.2 percentage points from July alone. That is the highest the yield has been since 2007, just before the onset of the Great Recession.