10-year Treasury yield hits 5.208%, highest since June 2007

The 10-year US Treasury yield reached 5.208% on Thursday, its highest level since June 2007, driven by elevated inflation including higher oil prices and expectations the Federal Reserve will raise rates at least once more this year. Higher yields raise mortgage and consumer borrowing costs but offer bond buyers and savers better returns, Morningstar Wealth’s Dominic J. Pappalardo said. Yields remained elevated Friday.