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U.S. Treasury yields hit 3% for first time in 4 years

The US Treasury Department building on Pennsylvania Avenue
The U.S. Treasury Department building on Pennsylvania Avenue. Photo: Paul J. Richards/AFP via Getty Images

Yield on the benchmark 10-year Treasury note hit 3% Tuesday for the first time since January 2014.

Why it matters: This impacts borrowing costs for the U.S. government, and means that servicing our debt could become more difficult (particularly as that debt is expected to grow due to the GOP tax plan).