Will US 10-year bond yield crossing 5% really hurt markets? Yes Securities says fears overblown
Economic Times 1 hr ago·12 Sept 2026, 5:01 am
The US 10-year Treasury yield recently crossed the 5% mark, a level last seen in 2023. This rise has sparked concerns that higher US interest rates could trigger a global market sell-off and hurt Indian equities.
However, Yes Securities argues these fears are overblown. The firm believes the surge in yields reflects stronger nominal growth and a structural shift in global interest rates, rather than a sign of economic weakness or a fiscal crisis. This suggests the market may be better positioned than investors anticipate.
Investors should watch how global yields evolve and whether Indian markets can sustain their rally. A sustained rise in US rates could still pose challenges, but a sharp correction seems less likely if the underlying economic data remains robust.
Excerpt from Economic Times
The 10-year US Treasury yield has risen above 4.9% and is marching towards the crucial 5% level that it had last hit briefly in 2023. Yes Securities issued a contrarian bet, saying the rise in global yields increasingly reflects stronger nominal growth, a structurally higher equilibrium real rate and synchronised…Read the original at Economic Times
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