US bond investors are bracing for heightened volatility across the entire yield curve as the 30-year Treasury yield has remained above 5% for 55 days, the longest stretch since 2006. New Fed Chair Kevin Warsh, who took over in late May 2026, has adopted a strictly data-dependent posture, and his hawkish remarks on August 28 pushed September rate-hike odds to roughly 50%. As of early September 2026, the 10-year yield stands at 4.78%, the 2-year at 4.37%, and the 30-year at 5.24%, with the 2s10s spread at 41 basis points. Corporate debt issuance reached $1.68 trillion through August 2026, a 27% increase year-over-year, with a significant portion tied to AI-related capital expenditures.
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