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THE STORY

Long yields near the highs

Long-term Treasury yields sit near multi-decade highs with the Fed still leaning toward another hike, so every move in long bonds reprices small caps, banks and big tech.

Steady
TIMELINE
  1. FRI, OCT 23Steady

    Long Treasuries gave back 0.49% as crude jumped 4.3%, a reminder that an oil shock can push yields back up.

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  2. THU, OCT 22Cooling

    Long Treasuries rose 1.86% as chips fell 6%, leaving them about 6% above their Oct 5 low, so yields have eased off the highs.

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  3. WED, OCT 7Heating

    The September FOMC minutes showed most officials expect another hike by year-end, long yields pressed multi-decade highs and small caps fell 1.29%.

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