Treasury Yields Rise as Fed Rate Decision Looms, China Recovery Elusive

US Treasury yields rise across maturities in Asian trade, with the 10-year yield above 5% for the first time since October 2023. Investors await the Federal Reserve's rate decision on Wednesday, with a 25bp hike priced in at a 93% probability. Barclays economists say China's August economic data reinforces their view that a domestic demand recovery remains elusive, while infrastructure investment could see some pick-up but another boom is unlikely.