Bonds and rates — Treasury yields, bond auctions, central-bank rates and the yield curve.
The benchmark 10-year yield dropped by over 19 basis points for its largest single-day fall since March 2023, closing in at 4.9591% on October 23 as the AI tech rout pushed investors toward government bonds and long-dated funds gained nearly 2%.
Indian government bonds nudged higher on Thursday as a sharp US Treasury rally — the 10-year yield sliding over 8 basis points to 5.10% — offered rare relief, but RBI hawkishness and a Friday debt auction capped the move.
The US Treasury's $22 billion 30-year bond auction cleared at a 5.618% yield with 2.54x bid coverage, as foreign buyers took 72.3% of the sale and yields pulled back from 24-year highs.
The 10-year Treasury yield touched 5.342% this week, its highest since 2002, yet the Nasdaq 100 still hit a record. What the AI rally is up against as 6% enters the conversation.
The Stoxx Europe 600 fell 1.1% this week — its fourth loss in five — as the US 10-year Treasury yield reached a two-decade high and European government borrowing costs jumped to multi-year peaks.
