Let’s start with a loan that has an interest rate of 4.81%.
Now, if you’re taking out a mortgage, buying a car or paying off a credit card, 4.81% is a killer bargain these days. But if you’re the federal government, not so much.
The yield on the 10-year Treasury note — that is the annual interest paid by the United States to borrow money for 10 years — reached 4.81% on…