The impact of soaring bond yields on US consumers in 4 charts

• Americans are already feeling the pain of higher bond yields.
• Bond yields have surged in recent weeks as investors fret over higher-for-longer interest rates.
• Borrowing costs have climbed for mortgages, personal loans, auto loans, and credit card debt.

Higher interest rates are signaling more pain ahead for American consumers, and there are signs that the impact of the recent surge in US Treasury yields is already starting to be felt.

Treasury yields have jumped over the past month as investors fret over higher-for-longer interest rates from the Fed. That pushed the 10-year Treasury yield past 5% on Monday, the highest level since 2007.