🇺🇸BREAKING: The US 10-year Treasury yield hits 5.13%, its highest level since July 2007. The yield jumped as much as 18 basis points today after Fed Governor Michael Barr signaled more rate hikes are needed. The 10-year is the benchmark for mortgages, car loans and credit cards, and the average 30-year mortgage is now above 7%. The last time yields were this high, the Nasdaq peaked three months later and then fell 56% by March 2009.