Two-Thirds of Investors See 10-Year Treasury Yield Topping 5% Before Year-End, Survey Finds

Two-thirds of the 392 investors in Bloomberg's Markets Pulse survey see the 10-year Treasury yield topping 5% before year-end, a level it has touched only briefly in 19 years. More than 60% of respondents think nothing fixes the debt path until a crisis forces it.
An analysis noted the 10-year yield prices mortgages, car loans and corporate refinancing, and that pushing it through 5% would make 7% mortgages the floor, keeping housing frozen and pressuring weaker balance sheets. The analysis pointed to the $40 trillion debt load as the driver setting rates on all borrowing.