Treasury yields are already blowing up the CBO’s long-term forecasts, and experts who previously downplayed U.S. debt fears are now starting to worry
The 10-year Treasury yield topped 5% this past week, hitting the highest level since 2007 and blowing way past forecasts for borrowing costs over the next decade. According to the Congressional Budget Office’s most recent long-term outlook issued in February—before the Iran war spiked oil prices and inflation views—the benchmark yield was seen at 4.1%…