U.S. borrowing cost hits 5.014%, highest since October 2023

5.014%. That’s where the 10-year Treasury yield traded intraday Sept. 14, highest since October 2023, before closing at 4.987%, CNBC reports. The yield is Washington’s borrowing cost and helps set mortgages and corporate debt. My concern: higher borrowing costs are already tightening finances before the Fed meets Sept. 15-16.