U.S. Long-Term Government Borrowing Costs Hit Highest Since 2002

The yield, or return, on U.S. 30-year Treasury bonds, the government's IOUs, touched its highest level since 2002 on October 1. It then eased 3.33 basis points, or one hundredth of a percentage point, to 5.6057%, Reuters reported. When bond prices fall, yields rise. These long-term rates help set many mortgage and business loan costs.