The 10-year Treasury yield just hit 5% for the first time since 2007 — is a 1970s-style ‘stagflation’ on the return?

News summary

For years, a 5% yield on the Treasury looked like a relic from another interest-rate era—where borrowers faced soaring loan rates. Now it’s back, capping a six-year surge from pandemic-era lows near 0.5%.