US 10-year Treasury yields risk hitting 6% for first time since 2000, Pimco says

US borrowers, bond investors and holders of rate-sensitive assets are the groups most likely to notice this first, because the 10-year Treasury yield was around 5.29% on Oct. 9 and one report linked that level to higher borrowing costs for households and pressure on risk assets. Mortgage rates were also described as climbing alongside the move in Treasurys.

In practice, borrowing costs have already been operating at a level close to the recent 5.34% peak, which the reports said was the highest since April 2002. What remains the same is that the 10-year note is still trading near that level rather than at 6%, which was described as only a possibility.

It is not known from these reports whether the yield will stay near its recent peak, move higher, or reverse, and no timeline for a 6% level was given. What would settle that is the next run of Treasury trading and yield data, which these pieces do not provide.