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US revenues hit 19-year high
U.S. 10-year Treasury bond yields rose to 5.124%, the highest level in 19 years, amid strong economic data and expectations of more interest rate hikes by the Federal Reserve. Additionally, the yield on 30-year bonds increased to 5.42%, while the 2-year bond yield remained steady at 4.895%. The outlook for monetary tightening has strengthened following a surge in services and manufacturing activity in September, reaching their highest levels in years, along with Fed officials' statements emphasizing the need for policy adjustments to combat inflation. Market expectations also indicate a roughly 70% chance of a rate hike at the upcoming October meeting.
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