Why a 10-year bond at a 5% yield is a pretty big deal

The yield or interest rate on 10-year Treasury bonds has reached the critical threshold of 5%. This is a key rate because it’s tied to some major borrowing costs for consumers. This morning, we have more on why bond yields are rising and how they could affect you. Also on the show: how rate hikes actually work to bring inflation down, and we continue our earlier conversation about the rise of so-called "Main Street millionaires."

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Stories featured in this episode:

So much of America's wealth is really held by "Everywhere Millionaires"