The 10-year U.S. Treasury yield rose to around 5.2% on Monday, remaining near its highest level since July 2007, as markets increased bets that the Federal Reserve will tighten policy further to contain inflation. Markets priced in roughly a 66% probability of an October Fed rate hike after data showed stronger-than-expected August orders for key manufactured capital goods and a sharp rise in the University of Michigan's September inflation expectations. Investors await the Fed's preferred inflation gauge and U.S. jobs data for further direction. The move extends an earlier rise to 5.22% on the 24th, while the 30-year yield reached 5.501%, its highest since 2004. Structural pressures cited in the broader market backdrop include AI infrastructure spending, widening fiscal deficits, a potentially higher neutral rate, oil prices and Treasury demand. Treasury Secretary Bessent's efforts to restrain long-term yields through increased Treasury buybacks have been widely viewed as having limited effect. Global government-bond yields averaged 4.04%, increasing pressure on South Korean growth and technology-stock valuations, while investors face losses if elevated yields persist.