Goldman Sachs: 30-Year U.S. Treasury Yield at 5.3%, Bull Market Will Still Continue

According to TechFlow Research, Goldman Sachs' Sept. 11, 2026 research report indicates that the 30-year U.S. Treasury yield has risen to 5.3%, marking its highest level in nearly two decades, while the 10-year U.S. Treasury yield has climbed to nearly 5%, reaching a new high since October 2023. The S&P 500 forward P/E ratio has declined from 22x at the start of the year to 19x, and the index remains within 2% of its historical peak. Goldman Sachs economists expect the Federal Reserve to raise interest rates by 25 basis points next week.