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Bond yields highest since 2002

Long-term Treasury yields climbed to their highest since 2002, making borrowing costlier and stocks less attractive next to bonds.

The 10-year Treasury yield sets the price of mortgages, company loans and other long-term borrowing. It has risen as oil keeps inflation up, worries about government borrowing grow, and the AI building boom draws money away from bonds. When bonds pay over 5%, investors need a better reason to own stocks, especially expensive ones, and companies that borrow to grow pay more. The Treasury has bought back older bonds to push yields down, but each time yields climbed again.

Where it stands The 10-year yield ended the week of Oct. 5 at 5.24%, down from 5.31% on Oct. 5, still near its highest since 2002.

Who wins, who loses

Tends to rise

None identified yet.

    Tends to fall
    • IntelINTC
      -40.1% in 3 months

      Fell 12.1% the week the 30-year yield neared a 20-year high, as chipmakers led the market down.

      Read the breakdown →
    • AMDAMD
      +0.4% in 3 months

      Expensive chip stocks fall hardest when yields jump; AMD fell 8% in that August week.

      Read the breakdown →
    • QualcommQCOM
      -0.4% in 3 months

      Fell 8.5% in late September as rising bond yields hit tech stocks and its Samsung talks stalled.

      Read the breakdown →
    • Realty IncomeO
      -8.5% in 3 months

      Its dividend competes with bond interest, so higher yields make the shares less attractive.

    When it moved markets

    1. Week of Oct 5The 10-year yield rose to 5.31%, its highest since 2002, though tech stocks still rose.
    2. Week of Sep 28The 10-year yield reached its highest level in 24 years, and Qualcomm fell 8.5% as rising yields weighed on tech.
    3. Week of Sep 21The 10-year yield rose to its highest since 2007, though a chip rally still lifted the S&P 500 1.3%.
    4. Week of Sep 7The 10-year yield passed 4.95% even after the Treasury tripled its long-term bond purchases, and stocks fell four days in a row.
    5. Week of Aug 31U.S. strikes on Iran pushed the 10-year yield to its highest since November 2023.
    6. Week of Aug 17The 30-year yield neared a 20-year high. A Treasury plan to buy back old bonds failed to hold yields down, and chipmakers fell.

    Sources

    1. 1Stock market today: Dow, S&P 500, Nasdaq fall as chip stocks sell off, bond yields rattle markets · Yahoo Finance, 2026-08-18
    2. 2Treasury doubles debt buybacks as Bessent moves to steady bond market · CNBC, 2026-08-19
    3. 3Dow tumbles 700 points, S&P 500 falls as Treasury plan to subdue yields fails · CNBC, 2026-08-20
    4. 4Dow falls more than 400 points, oil rises after new U.S. strikes against Iran · CNBC, 2026-09-01
    5. 5Dow tumbles 300 points to notch 4-day drop as Treasury yields and oil prices surge · CNBC, 2026-09-10
    6. 6Stock market today: Nasdaq surges 2% to record high, Dow and S&P 500 gain as chip stocks rally, oil falls · Yahoo Finance, 2026-09-21
    7. 7The 10-year Treasury yield is at its highest in nearly two decades. How we got here · CNBC, 2026-09-26
    8. 8Why Qualcomm (QCOM) Stock Is Down Today · Yahoo Finance, 2026-09-28
    9. 9Markets News, Oct. 2, 2026: Indexes Rise Friday After Weak Jobs Report; Nasdaq Hits New High; Dow, S&P 500 Book Weekly Losses · Yahoo Finance, 2026-10-02
    10. 10Stock market today: Nasdaq, Nvidia post record highs as tech strength outshines bond weakness · Yahoo Finance, 2026-10-05
    11. 1110-year Treasury yield rises to fresh 2002 high to start the week · CNBC, 2026-10-05
    12. 12How major US stock indexes fared Friday, 10/9/2026 · AP via La Nacion, 2026-10-09