10-year Treasury yield hits 5.014%, highest since October 2023

The 10-year U.S. Treasury yield hit 5.014% intraday Sept. 14, its highest since October 2023, before closing at 4.987%, per CNBC. The yield is the government's borrowing cost and helps set mortgages and corporate debt. I see the risk as higher borrowing costs tightening finances even before the Fed meets Sept. 15-16.