AI Summary

The 10‑year Treasury yield rose above 5% last week, reaching its highest level since 2007 and far exceeding the Congressional Budget Office’s long‑term borrowing‑cost forecasts. The CBO’s February outlook, produced before the Iran war raised oil prices and inflation expectations, had projected the benchmark yield at 4.1% for this year and 4.2% for 2027. These actual yields now surpass the agency’s predictions for the next decade.

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