Recent hotter-than-expected October CPI data and hawkish Federal Reserve commentary have pushed 30-year Treasury yields higher, with the benchmark trading near 5.35-5.45% amid expectations for additional policy tightening. Persistent inflation above the 2% target, energy supply pressures linked to geopolitical tensions, and robust economic growth have reinforced the higher-for-longer rate path, while heavy Treasury issuance and fiscal deficits add upward pressure on long-term yields. Modest haven demand from equity market volatility, including Nvidia-related concerns, has provided brief support for bonds but failed to reverse the broader repricing. Key upcoming catalysts include the December FOMC meeting, where markets price in at least one more 25-basis-point hike, along with further inflation and labor market releases that could shift rate expectations and influence the low for November yields.