The US Treasury bond prices have fallen for five consecutive periods, and the 30-year yield has approached 5% for the first time since May.

U.S. Treasury bonds fell for the fifth consecutive day, with market demand for long-term bonds weakening as multiple bond auctions are scheduled for this week. On Tuesday, U.S. Treasury bonds fell across the board, pushing yields up by 2 to 4 basis points, with the 30-year yield nearing 5% for the first time since May. Yields had been steadily climbing due to the unexpectedly strong U.S. labor market reported in the non-farm payrolls, causing investors to reduce their bets on a Fed rate cut. Interest rate swaps indicate that traders expect two 25 basis point rate cuts before the end of the year, with the first cut likely to come in September. Gregory Faranello, head of U.S. rate trading and strategy at AmeriVet Securities, said, "From the release of employment data to long-term bond supply, the market tends to consolidate. Our view on yields remains unchanged, as we still believe that only economic factors and the Fed can drive yields lower."