10-Year Treasury Yield hits 4.6% — bonds, stocks, and REITs repriced Shorts [dpDpH4DCcSB]
Full breakdown: The 10-year U.S. Treasury yield rose to 4.6 percent on July 20, 2026 — a 5 basis point increase from the prior session's 4.55 percent — per Federal Reserve FRED series DGS10. The move tightens the discount rate applied to future corporate earnings, compresses valuations for yield-sensitive assets, and raises borrowing costs across mortgages, corporate debt, and real estate refinancing. With the Federal Reserve's benchmark rate at 3.63 percent as of May 2026 (FRED FEDFUNDS), the 10-year now sits nearly 97 basis points above the overnight policy rate. Unemployment at 4.3 percent (FRED UNRATE, M