Analysts at Nordea Bank stated in a report that they expect long-term US Treasury yields to rise, with increasing issuance volume likely being the most significant driver.

The analysts noted, "We maintain our view that long-term rates will rise, based on our assessment of the labor market and inflation—but perhaps more importantly, due to the anticipated increase in bond market supply affecting the market in the coming years."

Nordea Bank analysts forecast that the 10-year US Treasury yield will climb to 4.50% in three months, reach 5.00% by mid-2026, and remain at that level through the end of 2026 and 2027.

According to Tradeweb data, the 10-year US Treasury yield fell by 1.1 basis points to 4.137%.