BlockBeats News, July 31st, Federal Reserve officials Logan and Hammock both defended their previous support for a 25-basis-point rate hike, boosting the market's expectation of further monetary policy tightening in the near term. US Treasury yields rose across the board, intensifying selling pressure.

In particular, the yield on the 10-year US Treasury note rose to 4.737%, reaching the highest intraday level since January 2025. As investors increased their bets on interest rates staying high or rising further, US bond prices continued to be under pressure.