{"id":20578,"date":"2025-04-11T06:43:44","date_gmt":"2025-04-11T06:43:44","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=20578"},"modified":"2025-04-11T06:43:44","modified_gmt":"2025-04-11T06:43:44","slug":"us-10-year-yields-surge-as-treasuries-sell-off","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/us-10-year-yields-surge-as-treasuries-sell-off\/","title":{"rendered":"US 10-Year Yields Surge as Treasuries Sell Off"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"559\" src=\"https:\/\/www.vtmarkets.com\/en-ca\/wp-content\/uploads\/sites\/13\/2026\/03\/image_fx-57-1024x559.png\" alt=\"\" class=\"wp-image-20582\" \/><\/figure>\n\n\n\n<p><strong>Key Points<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>U.S. 10-year note yields rose to 4.45%<\/strong>, their biggest weekly jump in 24 years.<\/li>\n\n\n\n<li>The <strong>USNote10Y chart shows a decline to 110.28<\/strong>, after a peak of 111.27.<\/li>\n\n\n\n<li>Global markets retreat as traders abandon U.S. assets for gold, the Swiss franc, and euro.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\" \/>\n\n\n\n<p>The rout in the <strong>U.S. Treasury market deepened on Friday<\/strong>, capping off a historic week where the <strong>10-year yield soared 45 basis points to 4.45%<\/strong>, the sharpest weekly rise since 2001. This violent bond market reaction reflects a deep <strong><a href=\"https:\/\/www.bbc.com\/news\/articles\/c5yrr0e7499o\">loss of trader confidence in U.S. fiscal stability<\/a><\/strong>, worsened by the White House&#8217;s erratic tariff escalation and mounting fears of a deep global recession.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Find out what&#39;s moving the markets &#8211; and why &#8211; with Market Talk. US Treasuries sold off with yields on the 10-year spiking overnight at 4.49%. Chris Turner of ING told Reuters that could signify a wider move away from US assets <a href=\"https:\/\/t.co\/vgjFPnCBRN\">pic.twitter.com\/vgjFPnCBRN<\/a><\/p>&mdash; Reuters (@Reuters) <a href=\"https:\/\/twitter.com\/Reuters\/status\/1910011071248884158?ref_src=twsrc%5Etfw\">April 9, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>This week\u2019s price action is not driven by inflation fears alone. Instead, the <strong>exodus from Treasuries<\/strong> appears to be fuelled by growing worries that <strong>escalating trade tensions, a deteriorating fiscal position<\/strong>, and <strong>a weakening dollar<\/strong> could all converge into a broader macro crisis. <strong><a href=\"https:\/\/www.allianzgi.com\/en\/our-firm\/our-experts\/experts\/michael-krautzberger\">Michael Krautzberger<\/a><\/strong>, Global CIO for Fixed Income at Allianz, said the selloff may also reflect fears that a recession would expose the already strained U.S. budget outlook.<\/p>\n\n\n\n<p>Even <strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-04-10\/treasuries-chaos-is-triggering-aftershocks-across-global-bonds\">30-year bonds have not been spared<\/a><\/strong>, with yields spiking to <strong>4.90%<\/strong>\u2014marking the largest weekly move since <strong>1982<\/strong>, according to LSEG data.<\/p>\n\n\n\n<p>The <strong>Federal Reserve<\/strong>, meanwhile, appears reluctant to ease policy quickly. Despite soft U.S. CPI data showing a <strong><a href=\"https:\/\/www.reuters.com\/markets\/us\/us-consumer-prices-unexpectedly-fall-march-2025-04-10\/\">surprise decline in March<\/a><\/strong>, <strong>FOMC minutes<\/strong> indicated concerns about the inflationary impact of new tariffs, leaving rate cuts off the table in the near term. This stance has further eroded confidence in Treasuries as a hedge.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Global Traders Rotate Out<\/h2>\n\n\n\n<p>Safe-haven demand has shifted elsewhere. The <strong>Swiss franc has hit a 10-year high<\/strong>, the <strong>yen is at a six-month peak<\/strong>, and <strong>gold has soared to $3,210\/oz<\/strong>, setting a new record. Meanwhile, the <strong>dollar index (USDX)<\/strong> broke below <strong>100<\/strong>, losing ground across the board and underscoring the shift away from U.S. assets.<\/p>\n\n\n\n<p>The <strong>Treasury market<\/strong>, once seen as the ultimate safe harbour, now finds itself at the centre of a global selloff. Institutional traders are believed to be <strong>rebalancing away from U.S. debt<\/strong>, while leveraged funds unwind positions to de-risk portfolios.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Technical Outlook and Cautious Forecast<\/h2>\n\n\n\n<p>The <strong>10-Year US Treasury Note<\/strong> shows signs of consolidation after failing to reclaim the recent <strong>high at 111.27<\/strong>. The chart reveals a gradual <strong>downtrend<\/strong> from that peak, with <strong>lower highs and lower lows<\/strong> forming consistently into the morning of April 11. Price touched a session low of <strong>110.03<\/strong>, which aligned with the 110.00 psychological level and triggered a minor bounce.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/en-ca\/wp-content\/uploads\/sites\/13\/2026\/03\/image-14-1024x443.jpg\" alt=\"\" class=\"wp-image-20579\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><em>Picture: 10Y note hovers in a holding pattern after testing key support at 110.03, seen on the <\/em><em><a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\">VT Markets app<\/a><\/em><\/p>\n\n\n\n<p>The <strong>MACD histogram<\/strong> had been firmly negative throughout the slide but is now flattening with a potential <strong>bullish crossover<\/strong> forming\u2014hinting at short-term exhaustion in selling pressure. However, price remains below the <strong>30-period moving average<\/strong>, and recent attempts to break higher have stalled near <strong>110.33<\/strong>, keeping the broader tone cautious.<\/p>\n\n\n\n<p>A confirmed break above the <strong>110.40\u2013110.50 zone<\/strong> may signal renewed buying, while failure to hold above <strong>110.03<\/strong> exposes the chart to further weakness.<\/p>\n\n\n\n<p>Markets are now watching for <strong><a href=\"https:\/\/www.marketwatch.com\/economy-politics\/calendar\">next week\u2019s economic indicators<\/a><\/strong>, including industrial production, retail sales, and Fed speeches, for further insight into whether the <strong>bond market panic has peaked\u2014or is just beginning<\/strong>.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\">Create your live VT Markets account<\/a><\/strong><strong> and <\/strong><strong><a href=\"https:\/\/myaccount.vtmarkets.com\/login\">start trading<\/a><\/strong><strong> now.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 10Y U.S. Treasury market faces its steepest selloff since 2001 to recession fears and collapsing confidence in American fiscal credibility. &#8211; vtmarkets.com<\/p>\n","protected":false},"author":64,"featured_media":20582,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[31],"tags":[7],"class_list":["post-20578","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","tag-stocks"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/20578","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/users\/64"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/comments?post=20578"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/20578\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media\/20582"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media?parent=20578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/categories?post=20578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/tags?post=20578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}