The move through 5% arrives only weeks after US national debt crossed $40 trillion for the first time, and that sequencing is the part drawing attention rather than the yield itself. Albion Financial's Jason Ware attributes the selloff to a supply and demand imbalance, with Treasury and corporate issuance competing for the same pool of capital, and says he does not expect markets to break simply because the number starts with a five. The counterargument is straightforward: yields rising on strong growth mean one thing, and yields rising on deficits and inflation mean another, and this looks like the second kind.