10-Year Treasury Selloff Deepens: Worst Run in a Century

The 10-year Treasury note is enduring its worst stretch in over 100 years, with yields climbing steadily as bond prices fall. This marks one of the most significant fixed-income disruptions in modern market history, reshaping how institutional investors approach duration risk.

Despite the pain, capital continues flowing into bonds. Strategists note that elevated yields are becoming increasingly attractive for new money, effectively offsetting the negative price action for existing holders. This dynamic underscores a maturing shift in portfolio allocation as rates stay higher for longer.

For industry participants, the takeaway is clear: fixed-income desks are recalibrating models to account for structurally elevated yields rather than expecting a quick reversion to pre-cycle norms.