WS #14753
The US 10-year Treasury yield has topped 5%, reaching levels not seen in two decades and effectively wiping out the S&P 500's gains for September. This surge in long-end yields is the primary catalyst for the current equity selloff, as it increases the discount rate for future earnings and challenges the market's rate-cut expectations. The move signals a potential structural shift in bond market pricing, forcing a repricing of risk assets across the board.
US Bond Yields Spike
The US 10-year Treasury yield has topped 5%, reaching levels not seen in two decades and effectively wiping out the S&P 500's gains for September. This surge in long-end yields is the primary catalyst for the current equity selloff, as it increases the discount rate for future earnings and challenges the market's rate-cut expectations. The move signals a potential structural shift in bond market pricing, forcing a repricing of risk assets across the board.