Fed cuts have not lowered long-term yields: since the easing cycle began in September 2024, the 30-year Treasury yield has climbed from below 4% to 5.3% despite

Fed cuts have not lowered long-term yields: since the easing cycle began in September 2024, the 30-year Treasury yield has climbed from below 4% to 5.3% despite 175 basis points of cuts. That leaves it at its highest level since 2007, signaling persistent inflation pressure.