The Federal Reserve’s unanimous 25-basis-point rate hike last week, coupled with dot-plot signals for additional tightening this year, has anchored trader focus on persistent inflation risks from elevated oil prices and geopolitical tensions, driving the 30-year Treasury yield to intra-month highs near 5.36% before easing to around 5.28-5.30% amid softer energy prices. Heavy Treasury issuance, fiscal deficit concerns, and resilient economic data have lifted term premia and reinforced expectations for higher-for-longer policy, pushing yields up roughly 50 basis points from early-September levels while the curve bear-flattened. Key near-term catalysts include upcoming CPI releases and the October FOMC meeting, which could shift market-implied odds if inflation or labor-market readings surprise.