Resilient U.S. growth, elevated oil prices above $100 per barrel amid geopolitical tensions, and persistent inflation have driven the 30-year Treasury yield to multiyear highs near 5.5-5.62% in late September 2026, its highest level since 2002. The Federal Reserve’s September 25-basis-point hike to a 3.75%-4.00% target range, combined with large fiscal deficits exceeding $1.9 trillion and heavy Treasury issuance, has lifted real yields and term premiums. Recent weaker-than-expected September employment data reduced October rate-hike odds sharply. Traders will monitor upcoming economic releases and the October 28 FOMC decision for signs that could ease policy expectations or ease supply pressures, potentially allowing yields to retrace.