The 10-year Treasury yield climbed to 5 percent on Wednesday. That is a critical level for the US economy and markets. The Federal Reserve lifted interest rates. It suggested more increases are coming. Stocks slumped. Investors are worried about further rate hikes as the Fed works to curb inflation.
Higher bond yields pressure American consumers. Yields could fall as fast as they rose. The 5 percent mark is important for the broader economy. It stays a critical gauge for markets. This threshold is critical.