Rising Treasury Yields Send Ripples Through Economy as Rates Climb Despite Unchanged Fed Policy

10-year Treasury yield has risen sharply in recent months, spooking investors and policymakers
Rate increases have flowed to mortgages, credit cards, business loans despite unchanged Fed policy rate
10-year yield especially influential as it affects many borrowing costs
Yield rose as outlook for growth improved despite Fed tightening
Markets now expect rates to stay high to fully control inflation
Growing budget deficits mean more borrowing needs just as some investors pull back
Higher rates squeeze companies, home buyers, other borrowers