US 30-year yield hits 5.53%, highest since June 2004

The 30-year Treasury yield reached 5.53%, its highest level in over 22 years. The yield has surged 25 basis points in three days. Mortgage rates are expected to rise above 7.50%. 127 clean stories shaped this window, with sentiment leaning bearish at 47/100. Also in focus: Iran sends seven-day proposal to reopen Strait of Hormuz via Qatar.