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Listen to this article in summarized format The 2-year Treasury note yield climbed 8 basis points to 4.464%, while the benchmark 10-year yield rose 7 basis points to 5.058%, its highest level since July 2007. The 30-year Treasury yield advanced more than 4 basis points to 5.347%, according to a CNBC report. Fresh services and manufacturing data heightened concerns that the Federal Reserve may need to raise interest rates further. Yields rose across maturities, while European government bonds also sold off. The rise reflects renewed pressure in global bond markets, with investors focused on inflation, interest-rate expectations, higher oil prices and government borrowing needs. The 5% yield threshold is closely watched by investors because higher long-term borrowing costs can weigh particularly heavily on growth and technology stocks, whose valuations depend more on future earnings. The S&P Global services PMI rose to 58.7 in September from 56.5 in August, marking its highest reading in nearly five years. The manufacturing PMI also climbed to 56.7, reaching its strongest level in more than four years. According to the CME Group’s FedWatch tool, the probability of another 25-basis-point rate hike in October increased to 64% on Wednesday, up from 55% on Tuesday. A month earlier, the odds were below 10%. (Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times) (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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