Bond markets, however, signaled that investors remain less certain about the path back to the central bank's inflation target. Market participants have increasingly focused on whether persistent fiscal borrowing, resilient economic growth and inflation risks will keep long-term yields elevated even if the Fed moves cautiously on short-term rates. The move in Treasury yields follows a broader repricing across global bond markets in recent months. Higher long-term borrowing costs have also raised financing expenses for mortgages, corporate debt and other interest-sensitive sectors of the economy. Housing remains one of the areas most exposed to those higher yields.