10-Year Treasury Yield Hits Fresh 2002 High as 'Fiscal Apocalypse' Fears Mount

The 10-year U.S. Treasury yield climbed to its highest level since 2002 at the start of the week, driven by inflation concerns and rising deficit fears. While analysts say surging yields don't yet signal a fiscal crisis, the move pressures equities and raises borrowing costs, with implications for indices, FX pairs, and rate-sensitive assets.