General News
US Borrowing Costs Hit Highest Level Since 2007 as Treasury Yields Break Above 5%
By Angel No Lie | KPD Online | September 16, 2026
WASHINGTON — The cost of borrowing in the United States has climbed to levels not seen since the years preceding the global financial crisis, with the benchmark 10-year U.S. Treasury yield briefly rising above 5% this week.
Treasury yields move sharply higher
The 10-year Treasury is closely watched because its yield influences a wide range of borrowing costs throughout the U.S. economy, including mortgages, corporate debt and other long-term loans.
The U.S. Treasury’s official daily yield data showed the 10-year rate at 4.97% on September 14, while the 30-year Treasury stood at 5.34%.
The following day, market trading pushed the 10-year yield above the 5% threshold.
The rise represents a significant change from earlier in the year. Axios reported that the 10-year yield had increased by roughly one percentage point since the end of February, while the 30-year fixed mortgage rate had reached 7.08% by September 11.
30-year borrowing costs remain particularly elevated
The longer-dated Treasury market has already been under pressure for several months.
The 30-year Treasury yield reached 5.34% in August, its highest level since 2007, according to Bloomberg data cited by Advisor Perspectives. It had remained above 5% on dozens of trading days during 2026.
On September 15, the 30-year Treasury yield was around 5.37%, according to market data, before easing slightly the following day.
Why are borrowing costs rising?
Several forces are pushing Treasury yields higher simultaneously.
1. Inflation concerns
Investors have become increasingly concerned that higher energy prices could keep inflation elevated.
Oil prices have risen sharply amid the continuing conflict involving Iran and disruptions to global energy markets. Reuters reported that the global bond sell-off has been driven partly by inflationary pressures and geopolitical uncertainty.
Higher expected inflation can lead investors to demand greater yields on long-term bonds because future interest and principal payments will have less purchasing power.
2. Heavy government borrowing
The United States continues to carry a debt load of roughly $40 trillion, while large budget deficits require the Treasury to issue substantial quantities of government securities.
The combination of heavy issuance and higher yields means the government’s interest bill can rise as existing debt matures and is refinanced at more expensive rates.
Recent analysis from the Peterson Foundation noted that the 30-year Treasury yield had already reached 5.27% at the end of July, its highest closing level since 2007.
3. Investors are demanding more compensation
Treasury bonds have traditionally been regarded as among the world’s most important safe-haven assets. But investors can still demand higher yields when they perceive greater inflation, fiscal or supply risks.
The recent move is part of a much broader international bond sell-off. Reuters reported that 10-year government bond yields in several major economies have also reached multi-year highs.
What does a 5% Treasury yield mean?
A Treasury yield of 5% does not mean that every American borrower suddenly pays 5% interest.
Instead, it is a benchmark that helps determine pricing across financial markets.
For example:
- Mortgages: Long-term Treasury yields influence mortgage rates.
- Corporate borrowing: Companies generally pay a premium above comparable government borrowing rates.
- Consumer loans: Higher market interest rates can feed into the cost of credit.
- Government finances: New Treasury debt and refinanced debt can become more expensive.
- Investment returns: Higher Treasury yields can make government bonds more attractive relative to some riskier assets.
The impact therefore extends well beyond the bond market.
Mortgage rates feel the pressure
The housing market is among the areas most directly affected.
According to Axios, the average 30-year fixed mortgage rate reached 7.08% on September 11, moving alongside the rise in Treasury yields.
Higher mortgage rates can reduce the amount prospective buyers can afford to borrow, while increasing financing costs for homeowners refinancing or purchasing property.
For illustration, a $400,000 30-year mortgage at 7% carries a substantially higher monthly principal-and-interest payment than the same loan at 5%.
The Federal Reserve faces a difficult environment
The surge in long-term yields comes as markets focus on the Federal Reserve and its next interest-rate decision.
Investors are balancing two competing forces: economic activity and inflation on one side, and the possibility that elevated borrowing costs could weaken demand on the other.
The rise in energy prices complicates that calculation because expensive oil can simultaneously increase inflation while reducing consumers’ purchasing power.
Reuters reported that investors have been watching the Federal Reserve closely as the bond sell-off continues.
A warning sign for government finances
The rise in long-term Treasury yields is particularly important for Washington because the federal government must continually refinance maturing debt.
When interest rates remain elevated for an extended period, more newly issued debt is priced at higher rates.
That does not mean the entire U.S. debt stock immediately becomes more expensive. Much of the outstanding debt was issued previously at fixed rates. The financial effect builds progressively as older securities mature and are replaced.
The concern is therefore less about a single day’s yield and more about how long elevated yields remain in place.
Global bond markets are also under pressure
The U.S. move is part of a worldwide increase in long-term borrowing costs.
Reuters reported that the average 10-year government bond yield across the G7 had risen to around 4.285%, its highest level since the global financial crisis era. Yields in Japan, Germany, France and the United Kingdom have also risen significantly.
That means the U.S. is not experiencing an isolated Treasury-market event.
Instead, investors are reassessing inflation, government borrowing and interest-rate expectations across major economies.
What happens next?
The immediate direction of Treasury yields will depend on several factors, including:
Inflation: Evidence that price pressures are easing could reduce pressure on long-term yields.
Oil prices: A sustained energy-price shock could keep inflation expectations elevated.
Federal Reserve policy: Changes in expectations for short-term interest rates can affect longer-term bond yields.
Government borrowing: The amount of Treasury debt coming to market will remain important.
Investor demand: Strong demand at Treasury auctions can push yields lower, while weaker demand can have the opposite effect.
Key figures
| Indicator | Recent level |
|---|---|
| U.S. 10-year Treasury yield | About 5.04% intraday Sept. 15 |
| Previous comparable high | July 2007 |
| U.S. 30-year Treasury yield | About 5.37% Sept. 15 |
| 30-year yield high in August | 5.34% |
| 30-year fixed mortgage rate, Sept. 11 | 7.08% |
| U.S. national debt | Around $40 trillion |
The Treasury’s official data recorded the 10-year yield at 4.97% and the 30-year yield at 5.34% on September 14, before the subsequent market move above 5% in the 10-year maturity.
The bigger picture
The jump in Treasury yields is more than a headline about the bond market. It is a signal that the price of money across the U.S. economy is becoming more expensive.
For the federal government, sustained high yields could increase the cost of servicing newly issued debt. For businesses, financing becomes more expensive. For households, mortgage and other borrowing costs can rise.
At the same time, higher Treasury yields can provide savers and investors with greater returns on relatively low-risk government securities.
The key question for markets is therefore not simply whether the 10-year Treasury yield has crossed 5%, but whether it remains at that level or continues rising.
For now, the breach marks the highest 10-year U.S. Treasury yield since 2007 and comes during one of the most significant global bond-market sell-offs in years.
Sources: U.S. Department of the Treasury, Reuters, Financial Times, Axios, Congressional and market-data reporting.
Image note: For commercial publication, use properly licensed editorial photographs or U.S. government images and retain the photographer/agency credit.
General News
GTA Regional Directors Raise Concerns Over CEO Maame Efua Houadjeto’s Leadership
Fourteen Regional Directors of the Ghana Tourism Authority (GTA) have raised concerns about the leadership approach of the Authority’s Chief Executive Officer, Maame Efua Houadjeto, during a meeting with the Board of Directors to address what they describe as persistent organisational challenges.
The meeting, held on Monday, October 12, 2026, at 3:00 p.m., was convened to discuss issues the Regional Directors say have remained unresolved since July 2026.
According to the Directors, the engagement was not intended to serve as an arbitration process but rather to obtain responses to questions and concerns they had previously raised.
During the meeting, the Directors expressed their displeasure with the CEO’s leadership approach, highlighting concerns about stakeholder engagement, regional coordination and other issues they believe are affecting the effective operation of the Authority.
They indicated that the concerns extend beyond individual disagreements and touch on broader institutional matters that require attention to ensure the smooth functioning of the GTA.
The Directors maintained that their position was motivated by the need to safeguard the integrity of the institution and restore effective operations across its regional structures.
They also called on the Board of Directors to facilitate a formal response from the Office of the CEO to the issues raised, stressing the need for the concerns to be addressed through the appropriate institutional channels.
The engagement provided an opportunity for the Regional Directors to formally communicate their grievances to the Board and seek its intervention in resolving the outstanding matters.
The meeting ended with a call for further intervention by the Board of Directors to ensure that the issues raised receive the necessary attention and responses.
It remains unclear what specific questions have been pending since July, what responses the Regional Directors expect from the CEO, or what steps the Board intends to take following the meeting.
The outcome of any subsequent engagement between the Board, the CEO and the Regional Directors is expected to be important in determining how the concerns will be addressed and how coordination within the Authority will be strengthened.
General News
Gamal Gorkeh Nkrumah, Son of Ghana’s First President, Dies in Cairo
Gamal Gorkeh Nkrumah, son of Ghana’s founding President, Osagyefo Dr Kwame Nkrumah, has died in Cairo, Egypt, following a prolonged illness.
The Nkrumah family announced his death in a statement posted on the Facebook page of Samia Nkrumah, daughter of Ghana’s first president.
According to the statement, Gamal passed away peacefully in Cairo, where he had been receiving care at a rehabilitation centre after suffering a stroke.
The family described him as a beloved son, respected journalist, writer and intellectual who dedicated much of his life to examining the political, social and cultural developments shaping Africa and the wider world.
It said Gamal remained deeply committed to the ideals of justice, human dignity, African unity and international solidarity throughout his life.
As a journalist and commentator, he used his voice and intellect to analyse issues affecting Africa and the international community, earning recognition among friends, colleagues and readers who valued his insights and perspectives.
The family further described him as a man of profound intellectual curiosity, independent thought and quiet conviction, noting that he carried forward his father’s legacy in his own distinctive way while building a reputation based on his personal principles and achievements.
His death, the family said, represents a significant loss not only to his relatives and loved ones but also to the wider community of people who appreciated his work, humanity and engagement with important issues of his time.
The statement added that the family remembers Gamal with immense love, gratitude and pride, describing his wisdom, kindness and commitment to his values as an enduring source of inspiration.
The Nkrumah family also expressed appreciation to those who supported Gamal throughout his illness, particularly the medical professionals and caregivers in Cairo who provided him with treatment and care.
It extended its gratitude to the governments and people of both Egypt and Ghana for their support during the difficult period.
The family has appealed to the public to respect its privacy as it mourns the loss.
Details of memorial arrangements and opportunities for the public to pay tribute to Gamal Gorkeh Nkrumah’s life and legacy, according to the statement, will be communicated in due course.
General News
FOUR PROFESSORS SUE TO HALT GIMPA RECTOR SEARCH PROCESS AMID CONTROVERSY
Four professors at the Ghana Institute of Management and Public Administration (GIMPA) have filed a lawsuit seeking to halt aspects of the process to select a search committee for the appointment of a new Rector, escalating tensions over the institution’s leadership transition.
The plaintiffs are Professors Lord Mawuko Yevugah, Wisdom Akpalu, Kwami Adanu and Patrick Tandoh-Offin. They filed the action on October 5, 2026, challenging aspects of the process involving the Chairman of GIMPA’s Governing Council, the Institute’s Secretary and the Rector.
At the centre of the dispute is the Convocation register used to determine who could vote for representatives on the Rector Search Committee. The professors contend that about 30 newly appointed or promoted lecturers were included on the register despite questions over whether their appointments had received the necessary approval from the Governing Council.
They argue that allowing the lecturers to participate in the election could undermine the legitimacy of the process and have asked the court to ensure that the selection of the search committee complies with GIMPA’s 2020 Statutes. They also want the committee’s composition and the respective roles of the Governing Council and Convocation clarified.
GIMPA management, however, has indicated that a special ad hoc committee audited the Convocation register and confirmed that those listed had valid appointments, based on Human Resource Management records. Exceptions reportedly applied to staff on leave of absence or secondment.
The Convocation election proceeded on October 6. According to reports, Professor Patrick Tandoh-Offin contested to represent the professorial class but lost to Professor Emmanuel Gyamfi Numapau, who received 118 votes against Tandoh-Offin’s 35.
The legal challenge comes as GIMPA prepares for the end of Rector Professor Samuel Kwaku Bonsu’s tenure in August 2027. The Institute’s statutes require the search process to begin ahead of the incumbent’s departure.
The case raises questions about voting eligibility, institutional governance and the procedures for selecting the next Rector. The court’s determination could affect the process, although the available reports do not establish that an injunction has been granted or that the election
General News
EPA ORDERS IMMEDIATE HALT TO UNAPPROVED RECLAMATION WORKS NATIONWIDE — GOVERNMENT AGENCIES, CONTRACTORS ON NOTICE
The Environmental Protection Authority (EPA) has ordered an immediate halt to all land reclamation, mine-site rehabilitation, dredging and water-body restoration activities being undertaken without the requisite environmental permits across Ghana.
In a public notice issued on Wednesday, October 14, 2026, the Authority warned that institutions, companies, contractors and individuals operating without its approval must cease work immediately and report to the nearest EPA regional office or its head office for regulatory assessment.
The directive applies to both public and private projects, including government-sponsored, privately funded and donor-supported initiatives. The EPA specifically mentioned the Ministry of Lands and Natural Resources, Forestry Commission, Ghana Gold Board (GoldBod), Minerals Commission and Mineral Development Fund among the institutions required to ensure compliance.
Under Regulation 40 of the Environmental Protection (Environmental Assessment) Regulations, 2025 (L.I. 2504), reclamation and restoration activities fall within Ghana’s environmental assessment and permitting framework.
The covered activities include rehabilitating abandoned mining sites, backfilling excavated areas, restoring degraded land, revegetation, dredging and desilting rivers, modifying river channels and restoring polluted water bodies, wetlands and aquatic ecosystems.
The Authority stressed that securing a contract, obtaining funding approval, holding a mining lease or receiving authorisation from another public institution does not replace an EPA Environmental Permit. Similarly, consent from traditional authorities, memoranda of understanding and participation in government programmes cannot substitute for the required approval.
Contracting institutions have also been directed to verify the environmental permit status of projects before allowing contractors to mobilise to their sites.
The EPA acknowledged the importance of restoring lands and water bodies damaged by illegal and irresponsible mining but cautioned that rehabilitation efforts must not create further environmental destruction by bypassing regulatory safeguards.
It warned that individuals and institutions that continue unapproved operations after the notice would face action in accordance with applicable Ghanaian laws.
The directive reinforces the Authority’s position that environmental restoration, regardless of its funding source or purpose, must comply with the country’s permitting requirements.
General News
North Korea and China Open Long-Delayed Bridge
The opening of the long-awaited New Yalu River Bridge marks a significant step towards strengthening cross-border transport and trade between China and North Korea.
China and North Korea have officially opened a major bridge linking the two countries, ending a 12-year delay that kept the infrastructure project unused despite its completion in 2014.
The New Yalu River Bridge connects the Chinese border city of Dandong, in Liaoning province, with Sinuiju in North Korea. The four-lane crossing stretches approximately three kilometres across the Yalu River and is expected to improve the movement of goods between the neighbouring countries.
The project was originally intended to begin operating in 2014. However, the opening was postponed for years as infrastructure on the North Korean side, including connecting roads and customs facilities, remained incomplete. Analysts have also pointed to strained bilateral relations and disagreements surrounding economic cooperation as possible contributing factors.
Trade and economic implications
The new crossing is expected to ease pressure on the older China–North Korea Friendship Bridge, which has served as a major route for official trade between the two countries.
By providing additional road capacity, the new bridge could improve freight transportation, reduce congestion and support the movement of essential goods. Its strategic location is particularly important because China remains North Korea’s principal trading partner.
Nevertheless, the opening does not automatically guarantee a rapid increase in trade. International sanctions imposed in response to North Korea’s nuclear and weapons programmes continue to constrain economic activity, while the scale of future commercial traffic will depend on border arrangements and the two governments’ economic policies.
A signal of closer bilateral engagement
The bridge’s inauguration comes amid renewed diplomatic engagement between Beijing and Pyongyang. It also highlights China’s continued economic importance to North Korea as the latter seeks to maintain relationships with key regional partners.
For China, improved transport links could facilitate cross-border commerce and support economic activity in Dandong. For North Korea, the bridge offers additional capacity for importing goods and developing commercial infrastructure around Sinuiju.
However, the project’s long delay illustrates how political disagreements and economic considerations can obstruct infrastructure intended to improve regional connectivity.
What happens next?
Attention will now turn to how quickly the bridge becomes an established route for commercial traffic and whether the additional capacity translates into measurable growth in bilateral trade.
While the opening represents an important infrastructure milestone, its longer-term economic and diplomatic impact will depend on the willingness of both governments to sustain cooperation and the restrictions governing North Korea’s international trade.
The opening ends a lengthy wait for the two countries, but the bridge’s ultimate significance will be measured by the trade and cooperation it enables in the years ahead.
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