US 10-Year Yield Tops 5% for First Time Since Oct 2023, Pressuring Argentina

The 10-year U.S. Treasury yield has surpassed 5%, the highest nominal level since October 2023, signaling a global repricing of risk. This development raises financing costs for emerging markets, particularly Argentina, which faces heightened external vulnerability. The move reflects market expectations of persistent inflation or tighter monetary policy, though the exact driver remains unclear.