Bond Market Takeover: 10-year Tops 5.15%, Stocks Slide

Bullish Gator

10-year yield hits 5.15%, mortgages 7.37%; Dow -0.7%, S&P -0.8%, Nasdaq -1.1%. Oracle issues force majeure; experts warn rising cost of capital imperils the AI trade.

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What stands out

The clip shows bond yields driving the market: the 10-year Treasury topped 5.15 percent, the highest since 2007, pushing mortgage rates to 7.37 percent and sending the Dow, S&P 500, and Nasdaq lower. Panelists flagged how a higher cost of capital could reshape the AI trade, and BlackRock’s Rick Rieder put a dollar figure on it, saying each 100 basis points of tightening costs the government between $130 billion and $150 billion per year. Oracle’s force majeure notice on Project Jupiter provided a concrete corporate headline amid the fixed-income shock.