Soaring Treasury yields raise borrowing costs across the economy

U.S. Treasury yields jumped Wednesday by the most since April 2025, driven by inflation data, October Fed hike bets, weak demand at a 5-year auction and hyperscaler bond supply. The 10-year hit 5.125% and the 2-year rose 13+ basis points past 4.9%, raising borrowing costs on $40 trillion debt despite Scott Bessent's buybacks.