Treasury Yields Hit Multi-Decade Highs on Growth, Fiscal Worries

The US 10-year Treasury yield climbed to 5.25%, the highest in nearly two decades, while the 30-year yield reached 5.57%, its highest since 2002. Stronger economic data, including a projected 3.2% annualized GDP growth for the third quarter, and concerns over inflation and fiscal deficits are driving the rise. New York Fed President John Williams downplayed the need for an imminent rate hike, but long-term bonds largely ignored his comments.