U.S. stocks closed mostly lower on Monday in a choppy session that saw the 10-year Treasury yield briefly top 5% for the first time since in 16 years. The.
With the outlook of higher-for-longer solidifying, there's not much that can push yields down in the near-term, and there's still room for them to rise further.
The yield on the 10-year Treasury note briefly eclipsed 5% this week amid signs that the Federal Reserve might end up keeping interest rates high for longer, portending higher borrowing costs for the federal government and for households.