The US 5-year Treasury yield surged to 5.15%, reaching its highest level in 19 years, as bond investors demanded higher returns to lend to the US government. The yield now stands 115 basis points above the Federal Reserve’s interest rate range of 3.75% to 4.00%. The latest move marks the highest borrowing rate for the US government over a five-year period since 2007, highlighting rising pressure in the Treasury market.
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