Five spots to watch as the bond market creeps up on 5%

10-year Treasury yields have climbed near 5%, which can push up mortgage and corporate borrowing costs and make refinancing, acquisitions and consumer loans pricier.
On the flip side, heavy AI-driven capital spending is keeping demand for funds high — some analysts say rising yields may just reflect a strong economy and can coexist with market gains.
Higher rates are already cooling big deals and M&A chatter, as buyers grow more cautious and deal timelines and prices get pushed around.