Please, folks, let’s not start panicking about long-term Treasury bond yields. In the last couple of weeks I’ve seen more ink spilled about the 30-year Treasury than I have in probably the last 10 years.

The bellwether Treasury is the 10-year, which has been trading steadily in a range of 4 percent to 5 percent and no one’s been screaming about that.

Yet here’s the key point. The 30-year Treasury bond yield has gone up about 35 basis points in recent weeks almost entirely because of plenty of new economic statistics that show a faster, more powerful growth rate — especially in manufacturing and construction, along with advanced technologies.

It’…

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