


The bond market is flashing levels not seen in nearly two decades. The 10-year Treasury yield is hovering near 5%, while real yields — measured by Treasury inflation-protected securities (TIPS) — are at their highest since before the 2008 financial crisis.

Bond markets are flashing levels not seen in close to two decades. The 10-year Treasury yield is hovering around 5%.

The same ETF can show two very different yield numbers on the exact same day, and the gap is not a mistake.


In late October, VettaFi hosted an interactive virtual event featuring market leaders from State Street Investment Management, Janus Henderson, and Horizon. During the presentation, advisor sentiment polls revealed a decisive shift in how many are approaching their fixed income allocation.

Investors are raising hope that the Treasury market slide is finding a bottom, even with yields still elevated. The 10-year Treasury yield cratered Thursday amid signs that the flood of debt from AI hyperscalers may be easing.

AI stocks cracked on Thursday and spooked investors sent billions pouring into Treasuries, but the bond rally now faces a Fed meeting, a fresh inflation report, and December rate hike odds that could erase every gain.