The yield on the 10-year Treasury note reached a 16-year high Tuesday. That benchmark rate lifts interest rates on other loans.
The markets that set the yield on bonds are trying to predict the economic future.
Higher yields on government bonds mean the interest rate you pay for pretty much everything also climbs.
Interest rates on 30-year mortgages have started climbing.
Built in to market moves Wednesday morning are predictions about government spending, antitrust scrutiny and more.