5-Year Treasury Will Hit 4.70%

The 5-year Treasury will climb to 4.70% before 2027 and shove borrowing costs higher across the curve. Traders will point to Kevin Warsh's hawkish Jackson Hole comments and sticky PCE inflation near 3.7% as the spark, with the yield already at 4.57% on September 8, 2026. Strong labor data will ampl…