Long-term Treasury yields have climbed to their highest level since 2007. This presents a significant challenge for the economy and increases borrowing costs for both consumers and businesses.
On Tuesday morning, the yield on the 30-year Treasury exceeded 5.3 percent during early trading. This led to declines in the Nasdaq and the S&P 500. The cost for the U.S. government to borrow money reached a peak not seen since 2007.
This increase in borrowing costs is part of a concerning series of events that have unsettled global markets and affected American consumers.