Two-year Treasury yield hits 4.787%, highest since May 2024

U.S. Treasury sold $69 billion in two-year notes Sept. 22 at a 4.787% yield, per WSJ, the highest since May 2024. Yield — the annual return buyers demand — matters because higher short-term yields can push up borrowing costs and savings rates. I read this as what investors charge to hold government debt, not a forecast.