10Y Treasury Yield Hits 5% on Oil Spike Ahead of Fed Meeting

The 10-year U.S. Treasury yield breached 5% for the first time since 2023, driven by a surge in oil prices linked to Middle East conflict, just days before the Fed's policy meeting. This marks a significant shift in market expectations, likely reflecting inflation concerns and reduced rate-cut bets. The move threatens to raise borrowing costs for consumers and businesses, potentially dampening economic growth.