Rising 30-year Treasury yields, recently reaching 5.55% on September 28 amid a broader selloff, stem primarily from persistent inflation pressures fueled by elevated oil prices and geopolitical tensions, alongside resilient U.S. economic growth that has prompted traders to price in a tighter Federal Reserve policy path. Large federal deficits exceeding $40 trillion in debt and heavy corporate issuance, including AI-driven borrowing, have elevated term premia and increased supply competition, driving the yield above 5.5% for extended periods—the longest streak since 2006. Key near-term catalysts include September employment and inflation data releases plus the Fed's policy meeting, with market-implied odds reflecting ongoing uncertainty around rate expectations versus fiscal and supply dynamics.