Rate on short-term U.S. loans jumps

Interest on 2-year U.S. government debt rose 0.118 point to 4.348% on Aug. 28, its biggest one-day rise since March, the Wall Street Journal reported. That's 11.8 tiny steps traders call basis points — each is one-hundredth of a point. I expect these sharp short-term jumps to keep pressure on borrowing costs.