The 10-year Treasury yield touched 5 percent on Wednesday. That is a critical level for the US economy and markets. The Federal Reserve has raised interest rates. It signaled further hikes are coming. Stocks fell. Investors are worried about more tightening as the Fed moves to cool inflation.
Higher bond yields weigh on American consumers. Yields could drop as fast as they rose. The 5 percent mark is important for the broader economy. It remains a key marker for markets. This mark is critical.