10-year Treasury yield just broke 5.30% — highest since April 2002.
That's a 55 basis point jump this month alone. Since the March 2026 low, we're up 138 bps.
Mortgage rates are creeping toward 7.60%.
This matters because higher yields mean:
• Borrowing costs rising for everyone
• Pressure on stock valuations (especially growth)
• Housing market getting squeezed harder
• Refinancing window slammed shut
When the 10-year moves this fast, something usually breaks. We're watching credit spreads, regional banks, and anything leveraged.
Markets don't like uncertainty. Right now, bond vigilantes are making noise.
That's a 55 basis point jump this month alone. Since the March 2026 low, we're up 138 bps.
Mortgage rates are creeping toward 7.60%.
This matters because higher yields mean:
• Borrowing costs rising for everyone
• Pressure on stock valuations (especially growth)
• Housing market getting squeezed harder
• Refinancing window slammed shut
When the 10-year moves this fast, something usually breaks. We're watching credit spreads, regional banks, and anything leveraged.
Markets don't like uncertainty. Right now, bond vigilantes are making noise.
