10-year Treasury yield hits 5.34%, highest since 2002, settles at 5.237%

The 10-year U.S. Treasury yield, the benchmark borrowing rate that anchors mortgages and corporate debt, reached 5.34%, its highest since spring 2002, Reuters reported, before easing to 5.237%, down 5.65 basis points — hundredths of a percentage point. Higher long-term yields mean costlier loans but better returns for new bond savers.