Treasury par-yield curve

Explains the transmission from market yields to financial products and bank earnings.

An internal funding price helps compare lending, deposit gathering and transaction businesses. The result depends on cash-flow timing, behavioral assumptions and how liquidity costs and benefits are assigned.

How pandemic-era low yields turned into deep losses in long Treasury prices, why the 2023 rebound was incomplete, and what dated October 2026 evidence shows.

The Nasdaq gained 0.45% over the five sessions through October 2, while the S&P 500 fell 0.27%, the Dow declined 1.26% and the Russell 2000 slipped 0.16%. The 2-year Treasury yield rose 2 basis points and the 10-year yield increased 11 basis points from the prior Friday.

After the 10-year Treasury yield briefly reached 5.34%, yields turned lower and major U.S. indexes closed modestly higher on October 1. The Dow rose 0.04%, the S&P 500 0.20% and the Nasdaq Composite 0.04%.

Global bonds sold off as energy costs and inflation worries lifted yields. The 10-year Treasury reached 5.34% before easing to 5.28%; Micron’s strong AI-memory demand helped tech shares.