WS #15168
The US 10-year Treasury yield surged to 5.304%, its highest level since 2002, driven by inflation concerns and fiscal deficits. This spike in long-term rates is forcing a repricing of risk assets, particularly hurting high-multiple growth stocks and real estate. The market is reacting with caution, as evidenced by the equal-weight S&P 500 facing a prolonged losing streak, signaling broad-based weakness beyond the mega-cap tech leaders.
US Treasury Yield Spike
The US 10-year Treasury yield surged to 5.304%, its highest level since 2002, driven by inflation concerns and fiscal deficits. This spike in long-term rates is forcing a repricing of risk assets, particularly hurting high-multiple growth stocks and real estate. The market is reacting with caution, as evidenced by the equal-weight S&P 500 facing a prolonged losing streak, signaling broad-based weakness beyond the mega-cap tech leaders.