New Delhi, Sept. 15 -- The US 10-year Treasury yield, a benchmark for mortgage and auto loan rates, hit a nearly two-decade high on Tuesday, September 15, as elevated crude oil prices strengthened the case for a US Federal Reserve rate hike on Wednesday.

The 10-year yield rose to 5.041%, a level not seen since July 2007. In the previous session, the yield settled at around 5%, and the latest rise has further heightened concerns over borrowing costs for both corporates and businesses.

The move comes at a time when hyperscalers have announced massive investment plans to build AI infrastructure, while rising energy prices are adding to cost pressures for companies and consumers.

The combination of higher borrowing and energy costs could w...