10-Year Treasury Yield Tops 5%: Inside BofA’s Bond Call
As the 10-year Treasury yield clears 5.00%, Bank of America calls the century-worst bond slump a generational entry point for patient capital.
As the 10-year Treasury yield clears 5.00%, Bank of America calls the century-worst bond slump a generational entry point for patient capital.
Understand the four yield curve regimes: bull steepener, bear steepener, bull flattener, and bear flattener, what drives them, and how they impact markets.
The 10-year yield jumped 12 bp to 4.95% Sept. 10, its highest since Oct 2023, as the S&P 500 fell 0.58% for a fourth straight day ahead of Thursday’s CPI.
Why an inverted yield curve preceded every US recession since 1969, what the 10Y-2Y and 10Y-3M spreads measure, and the 2022 inversion that broke the pattern.
Yankee, Samurai, Kangaroo, Panda, Dim Sum — a field guide to foreign-currency bonds: what each is, where it trades, who regulates it, and why issuers use them.
Bessent’s doubled long-end buybacks pulled the 10Y from 4.72% to 4.65% in a session. More than half the rally was gone by the next close.
Treasury will at least double liquidity-support buybacks in the 10-30Y sector to $4B per operation starting Sept 9. Bessent signals more could come.
US public debt topped $40 trillion on Aug 18, 2026, per Treasury. The last two trillion arrived in about five months each.
Long-dated sovereign yields hit multi-year highs across the US, UK, Germany, and Japan in mid-August 2026 as buyers demand more term premium.
US investment-grade bond issuance is on a record 2026 pace, but buyers pulled 36% of orders this week after pricing was squeezed — twice the prior week.