The benchmark 10-year Treasury yield has reached its highest level since July, rising for the third consecutive day. This increase is driven by expectations of gradual interest rate cuts by the Federal Reserve and concerns about potential inflationary pressures related to the upcoming US presidential election.
Market speculation is growing around former President Donald Trump's chances in the November 5 vote, as he is seen as promoting growth and inflation through proposed tax cuts and increased tariffs. Furthermore, signs of a resilient US economy and persistent high inflation are contributing to the upward movement in yields across different maturities.