10-year US Treasury yield at 24-year high poses systemic risk

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The yield on the 10-year US Treasury note has reached 5.3%, a 24-year high surpassing its 2007 peak, driven by reckless selling pressure. This rapid increase in yields, or 'yield velocity,' represents a significant shift to higher borrowing costs and poses a danger to the financial system, which has relied on stable, low interest rates for the past quarter-century.