Rising yields push taxpayer interest bill higher
The 10-year Treasury note has risen well above expectations, a move that could increase the government's borrowing costs and add to the roughly $1 trillion taxpayer interest bill.
The 10-year Treasury note closed at 5.26% Tuesday, more than a point above the Congressional Budget Office's 4.1% projection for the year. That gap could raise borrowing costs for the federal government and add to the roughly $1 trillion in interest taxpayers face.