10-Year Treasury Yield Nears 25-Year High Before Fed Meeting

The 10-year Treasury yield climbed near 25-year highs ahead of the Federal Reserve's October 27-28 meeting, Reuters reported October 26. A yield is a bond's annual return at its current price; when prices fall, yields rise. Mortgage and corporate borrowing costs often track the 10-year, so households may feel higher rates even without a Fed move.