India, Oct. 5 -- Interest rates of US Treasury bonds are close to their peaks in more than two decades, putting more pressure on Washington as the country continues to rely on heavy borrowing to pay for its huge budget deficits. It becomes a source of increasing worry as it makes borrowing costs for both the government and individuals and companies even higher.

On October 5, the interest rate on the 10-year Treasury bond stood at 5.28%, having earlier breached 5.3%. According to Reuters, the yield on the 10-year Treasury note was at its peak since 2002, while the 30-year yield had also hit multi-decade peaks.

US Treasury Yields Rise: Why Are Borrowing Costs Increasing?

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