US Government Bond Yield Nears 25-Year High Before Fed Meeting

The 10-year US government bond yield climbed close to a 25-year high before the Federal Reserve's October 27-28 meeting, Reuters reported October 26. A yield is the yearly return a bond pays at its current price. When bond prices fall, yields rise. Mortgages and business loans often track it, so households may pay more even without a Fed move.