10-Year Treasury Yield Hit 5.35% on Oct. 7

The benchmark 10-year U.S. Treasury yield hit 5.35% on Oct. 7, up nearly 8 basis points, or 0.08 percentage points, CNBC reported. The yield — the annual return on government bonds — sets borrowing costs for mortgages and companies. Wall Street fell from record highs on Oct. 7 as yields climbed, Reuters reported.