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Story summary
- The 10-year U.S. Treasury yield climbed to roughly 5 % in September 2026, its highest level in about two decades.
- Analysts attribute the sell-off to the Middle East war and rising government debt.
- The surge pushes mortgage rates above 6 % and raises borrowing costs for households and firms.
- Traders price a 92 % chance of a rate hike at September meeting after Federal Reserve Chair Kevin Warsh’s hawkish comments.