U.S. Borrowing Costs Highest Since 2024

The war in Iran, which is driving investors out of Treasuries and fueling concerns about a renewed bout of inflation, has sent U.S. borrowing costs surging to their highest monthly jump since 2024. Two-year and ten‑year yields have risen sharply, reflecting expectations that the Federal Reserve may delay or reverse anticipated rate cuts. The sell-off is impacting the greater economy, including pushing 30-year mortgages rates to 6.3%, the highest this year.