On September 27, according to Cryptopolitan, U.S. Treasury yields rose again on Friday: the 10-year yield reached 5.230% during trading, marking the highest level since June 2007; the 30-year yield surpassed 5.51%, a level not seen since 2004; and the 2-year yield approached 4.90%. Strong economic data is the main driver: S&P Global's business survey on Wednesday indicated the largest monthly improvement in manufacturing since 2022 and the strongest services sector since 2021; real consumer spending in the second quarter grew at an annualized rate of 3.4%, and the Atlanta Fed's GDPNow model predicts close to 4% growth in the third quarter. Yardeni Research Chief Strategist Ed Yardeni stated, 'The surge in yields is primarily due to the booming U.S. economy'; Cleveland Fed President Hammack noted that the market is pricing in further rate hikes and stated that federal fiscal policy is unsustainable.
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