The 10-Year Yield's Relentless Climb to 5.32%
The 10-year Treasury yield has climbed from 3.98% in early March to 5.32% by early October, one of the most persistent moves in markets this year. Jim Iuorio of JI Financial Strategies breaks down the four forces behind the rally, from oil-driven inflation fears and heavy Treasury supply to the AI infrastructure boom and foreign central banks pulling back from the dollar. He also lays out the counterforce building at yields above 5%, where long-waiting buyers may finally see Treasuries as attractive again. For retail traders, the question is whether 5.32% is the level that stalls or reverses a seven-month move.
32% by early October, one of the most persistent moves in markets this year. Jim Iuorio of JI Financial Strategies breaks down the four forces behind the rally, from oil-driven inflation fears and heavy Treasury supply to the AI infrastructure boom and foreign central banks pulling back from the dollar. He also lays out the counterforce building at yields above 5%, where long-waiting buyers may finally see Treasuries as attractive again. 32% is the level that stalls or reverses a seven-month move.