30-year yield ends at 5.664%, 10-year at 5.310%, both highest since 2002

The 30-year Treasury yield settled at 5.664%, its highest since May 2002. The 10-year closed at 5.310%, highest since April 2002. The two-year was little changed at 4.831%. Markets expect the Fed to hold rates elevated as inflation concerns persist. The September ISM services PMI slowed to 54.9 from 55.4 but remains in expansion. The August trade deficit is forecast to widen to $102 billion, per WSJ. The Treasury will auction $58 billion in three-year notes tomorrow.