Week of October 26, 2026
Three weeks ago, we moved our U.S. Treasury rate signal from yellow to green as the 10-year Treasury yield climbed to 5.3%, well above its trend over the past two years. With yields subsequently retreating to approximately 5.0%, we are returning the signal to yellow. The retracement reduces the magnitude of the deviation from trend, supporting a return to yellow while maintaining a cautious stance on rates.
Bob Bilkie, CFA
