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10-year U.S. Treasury yield hits highest level since November 2023 as global bond sell-off continues
Inflation fears and heavy debt supply are pushing borrowing costs higher, with U.S. government debt sales and tech borrowing adding pressure.
- On Wednesday, the bond sell-off deepened, pushing the 10-year Treasury yield to 4.81%, its highest level since January 2025.
- Renewed Middle East tensions and a $2 trillion federal budget deficit are pressuring yields, while tech giants Microsoft and Amazon have issued $220 billion in debt this year.
- Higher yields threaten to cap stock valuations, as Matt Stucky, chief portfolio manager at Northwestern Mutual Wealth Management, warned a "sharp backup in rates" could "severely punish the forward multiple in the market."
- European Union inflation jumped to 3.3% in August, prompting expectations of European Central Bank rate hikes next week, while 10-year bonds globally are paying 5.14%, the highest in more than 15 years.
- Investors are warily watching the 10-year yield approach 5%, which Ameriprise strategist Anthony Saglimbene described as a "psychological level" that could trigger de-risking, while some bond buyers play a "waiting game" for higher yields.
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Rising Treasury yields could rattle US stocks as earnings season ends
U.S. stock investors are warily watching the rise in Treasury yields as a stumbling block for Wall Street's record-setting rally, with particular trouble seen if the benchmark 10-year yield jumps abruptly toward 5%.
·London, United Kingdom
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Total News Sources9
Leaning Left3Leaning Right0Center4Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
L 43%
C 57%
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