• 30-year Treasury rate briefly surpasses 5% during New York morning trading
  • Stronger-than-expected U.S. growth prompts upward revisions to GDP estimates
  • 30-year rate reaches its highest level since Aug. 15, 2007
  • Retail-sales report for September leads to revised GDP estimates
  • Morgan Stanley economists now estimate third-quarter GDP at 4.9%
  • Atlanta Fed’s GDPNow estimate suggests a 5.4% third-quarter GDP rate

Factuality Level: 8
Justification:

Noise Level: 7
Justification:

Financial Relevance: Yes
Financial Markets Impacted: Long-term government debt, Wall Street

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the selloff of long-term government debt and its impact on the 30-year rate. It also mentions the stronger-than-expected U.S. growth and revised GDP estimates. However, there is no mention of any extreme event.

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The 30-year Treasury rate briefly surpassed 5% during New York morning trading as Wall Street reacted to stronger-than-expected U.S. economic growth. This increase in the rate, which rose by 6.2 basis points to reach 5.01%, marks its highest level since August 15, 2007. The surge in rates follows a strong retail-sales report for September, leading economists to revise their GDP estimates. Morgan Stanley economists now project a third-quarter GDP of 4.9%, up from their previous estimate of 4.5%. Additionally, the Atlanta Fed’s GDPNow estimate suggests a third-quarter GDP rate of 5.4%, up from their previous estimate of 5.1% on October 10.