US 10-year Treasury yield hits 5.34%, highest since 2002

5.34% is the rate on 10-year US government debt after rising Oct. 1, 2026, Reuters reported, the highest since 2002. The yield — the yearly return for a 10-year loan to Washington — sets the floor for mortgages and business loans. I expect those high borrowing costs to last unless inflation falls or bond buying picks up.