[Bank of America: Fed's October Rate Hike May Support Risk Assets, Potentially Acting as a 'Floor' for U.S. Stocks] According to FinanceBiggo, Bank of America strategist Michael Hartnett has proposed an unconventional view, suggesting that if the Federal Reserve opts for a proactive rate hike during its October meeting, it may not be a bearish signal for the market. Instead, it could help stabilize long-term U.S. Treasury yields and provide support for risk assets. Hartnett believes that the core pressure on the current market is not short-term interest rates but rather the tightening financial conditions caused by the continued rise in long-term U.S. Treasury yields. Recently, the yield on the U.S. 10-year Treasury briefly rose to 5.36%, while the 30-year yield hit its highest level since 2002, sparking concerns in the market about further increases in long-term yields.