30-Year Yield Hits 2007 High as Oil Soars and September Rate-Hike Odds Explode

Long-end Treasury yields have climbed to levels not seen since 2007, concurrent with a sharp rise in crude oil prices and a sudden repricing of Federal Reserve rate-hike expectations for September. This repricing reflects either a shift in inflation expectations, stronger-than-expected economic data, or both—and has broad implications for equity valuations, currency carry trades, and commodity positioning heading into the FOMC calendar.

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