For NPS investors, the rise in global bond yields is becoming something worth watching. The US 10-year Treasury yield is hovering close to 5%, while the 30-year yield is above 5.2%. On September 22, the 10-year US Treasury yield stood at 4.96% and the 30-year yield at 5.29%, according to US Treasury data. The US Federal Reserve raised its policy rate by 25 basis points on September 16 to 3.75%-4%. It was the Fed’s first rate hike since 2023. Policymakers have also indicated the possibility of another increase this year.