Treasury 2-year auction clears at 4.787%, highest since May 2024

U.S. Treasury sold $69 billion in two-year notes Sept. 22 at 4.787% yield, per WSJ, highest since May 2024. Yield is the annual return buyers demand. Higher short-term yields can lift borrowing costs and savings rates over time. I see this as the market's price for holding government debt, not a forecast.