The optimism over the health of the U.S. economy and the tax-cut plan propelled the U.S. Treasury yields higher.
It was 2 months ago, July 27th, when the 10-year Treasury yield stood at 2.30%. Now, we are seeing it surpassing that level.
We are expecting that the Federal Reserve will raise rates one more time this year, likely in December. The Fed is also starting to sell its holdings of bonds in October. These are factors that will continue to influence the bond yields, and probably, continue to drive the yields higher.