🚨BREAKING: Borrowing costs for America's riskiest companies hit 17%, the highest since COVID. The US bond sell-off is now pushing up borrowing costs across corporate America, per FT. Here's what's happening: The 10-year Treasury yield hit its highest since 2002 last week Bank of America cut its forecast for investment-grade bond sales this month to $110 BILLION from about $160 BILLION Paramount's $52 BILLION bond sale for its Warner Bros deal sold off right after launch A record $1.45 TRILLION of US investment-grade debt comes due between 2026 and 2030, per Moody's The last time borrowing costs were this high, the Fed had cut rates to near ZERO. This time, traders are betting on 3 to 4 more hikes by early 2028.