See the 10-Year Treasury Yield’s Wild Ride on the Road to 5% - WSJ — SkimNews
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- The 10-year Treasury yield reached its highest level since 2007, per Yahoo Finance, in what the WSJ described as a "wild ride" on the road to 5%.
- CBO debt forecasts are being blown up by the yield surge, vindicating experts who had previously downplayed U.S. debt sustainability concerns.
- The Economist framed the move as markets waking up to "reckless borrowing" by rich-world governments, situating the U.S. alongside its developed-market peers.
Why it matters: The 10-year yield's surge to its highest level since 2007 is busting CBO budget forecasts and vindicating analysts who flagged U.S. debt risks. With yields approaching 5%, the Treasury faces higher borrowing costs — directly worsening the deficit outlook the CBO had projected and validating the debt-skeptic experts who were dismissed earlier.
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