US 10-year Treasury yield nears 5% ahead of Fed meeting
The yield on the 10-year US Treasury is almost at 5%, which basically means borrowing money is getting pricier.
This jump comes right before the Federal Reserve's big meeting, with most traders betting on another interest rate hike.
Rising oil prices and a strong job market are fueling these expectations.
Treasury auctions could push yields higher
This week, the Treasury is auctioning off billions in long-term bonds, think $13 billion in 20-year bonds and $19 billion in inflation-protected securities. How much demand there is could push yields even higher.
Plus, a recent jobs report showed 162,000 new positions added last month, making it even more likely that rates will stay high for a while.
All of this can impact everything from mortgages to other loans, so it's worth keeping an eye on.