30-YEAR TREASURY YIELD HITS 24-YEAR HIGH

The 30-year Treasury yield closed at 5.67% on October 7, its highest level since 2002, according to Federal Reserve data. That's up from 5.24% just five weeks earlier, on September 1, as persistent inflation worries and a growing pile of government debt push long-term borrowing costs higher. $TLT, the long-bond ETF that moves opposite long yields, has slid through the climb. Investors are now bracing for fresh inflation data and for signals from the Fed on where rates go next.