US borrowing costs hit highest level since 2007 as oil prices jump - BBC — SkimNews
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- 10-year Treasury yield hit its highest level since 2007, hovering above 5% as investors awaited a Federal Reserve rate decision.
- Rising borrowing costs took some shine off stocks, with BBC linking the yield spike to a jump in oil prices.
Why it matters: At above 5%, the 10-year Treasury's yield hasn't reached this level since before the 2008 financial crisis, a threshold that raises federal borrowing costs and tightens financial conditions for households and businesses heading into the Fed's next policy move.
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