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

By Zach Halaschak

Published October 20, 2023 7:00pm ET

Ten-year Treasury yield touches 5%, highest since before Great Recession — Blank stimulus checks are seen on an idle press at the Philadelphia Regional Financial Center, which disburses payments on behalf of federal agencies, in Philadelphia, Thursday, May 8, 2008. The first batch of rebate payments started hitting bank accounts last week through direct deposits. Treasury Secretary Henry Paulson, Vice President Dick Cheney and other Bush administration officials are visiting government check printing centers around the country on Thursday for events highlighting the fact that millions of rebate checks are in the mail. | (Matt Rourke/AP)

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.

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

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