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UST yields crept higher as markets reconciled easing hopes with persistent inflation and issuance concerns: 10Y slowly advanced from ~4.12% toward ~4.14–4.16%, while 2Y nudged upward reflecting recalibrated rate-cut expectations; the curve compressed modestly as long yields continued to carry repricing pressure. Weak labor signals and shutdown risks kept dovish narratives alive, but strong data surprises and debate within the Fed (some citing inflation upside) tempered conviction, limiting yield downside. Heavy Treasury and corporate issuance remained a dominant headwind, forcing dealers to absorb supply and pushing term premiums wider. Investors broadly viewed the move as a cautious repricing: easing is still expected, but the path is uncertain and will remain data-dependent.