$2 Trillion Deficit and 5% Treasury Yields Deepen US Economic Strain
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The 10-year Treasury yield reached 5.19% after rising 123 basis points since February, while the federal deficit stands at $2 trillion. Mortgage rates near 7.5% helped drive pending home sales down 4% in September, their steepest monthly fall in three years, as divided government makes a fiscal solution unlikely.
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