Yahoo Finance reported that, driven by the simultaneous rise in 10-year and 30-year US Treasury yields, the US 30-year fixed mortgage rate climbed to its highest level in nearly three years, further raising the burden on purchasers and exerting sustained pressure on housing-market activity.
US stocks closed slightly lower on October 5, with the dollar strengthening and risk-off sentiment driving capital into dollar-denominated assets.
US equities closed lower for a second consecutive session, driven by a sharp rally in oil prices and the 10-year Treasury yield breaking above 5% for the first time in nearly 19 years. The combined shock of energy prices and bond selloff is reshaping global asset allocation and creating new constraints on the Fed’s policy path.
US Treasury Secretary Bessent has publicly addressed bond market turbulence on multiple occasions in recent weeks, attempting to cool surging long-end Treasury yields, but markets have responded coolly. The 10-year Treasury yield remains near key psychological levels, reflecting deep investor anxiety over federal fiscal deficits, the path of monetary policy, and inflation stickiness.