Persistent inflation pressures and the Federal Reserve’s higher-for-longer policy stance are anchoring 30-year Treasury yields near 5.27% as of November 10, 2026, limiting expectations for sharp declines before 2027. Sticky core readings above 2.5% and energy-driven headline CPI have prompted the FOMC to raise the federal funds rate to the 3.75–4.00% range, with projections signaling rates near 4% through year-end 2027. Elevated term premium from heavy Treasury issuance, fiscal deficits near 6% of GDP, and resilient growth further support yields. Traders are watching the November CPI release and December FOMC meeting for signals on whether inflation moderation or renewed supply concerns will shift the market-implied rate path.