Treasury bonds just had their ugliest quarter in 30 years. The 10-year yield jumped 87 basis points in Q3—the sharpest quarterly move since 1994.
That's not just a number. It's a signal that bond investors are repricing risk, inflation expectations, or both. When yields spike like this, it ripples through everything: mortgage rates, corporate borrowing costs, equity valuations.
For context, 1994 was the year Greenspan surprised markets with aggressive rate hikes. This time, the move reflects a different fear—persistent inflation, fiscal uncertainty, or the market finally accepting that rates might stay higher for longer.
If you're holding bonds, you felt this. If you're in equities, you're watching discount rates shift under your feet. The cost of money just went up, and the market is still figuring out what that means.
That's not just a number. It's a signal that bond investors are repricing risk, inflation expectations, or both. When yields spike like this, it ripples through everything: mortgage rates, corporate borrowing costs, equity valuations.
For context, 1994 was the year Greenspan surprised markets with aggressive rate hikes. This time, the move reflects a different fear—persistent inflation, fiscal uncertainty, or the market finally accepting that rates might stay higher for longer.
If you're holding bonds, you felt this. If you're in equities, you're watching discount rates shift under your feet. The cost of money just went up, and the market is still figuring out what that means.
