10-Year Yield at 4.70% Pressures Growth Stocks
The US 10-year yield reached 4.70% (now 4.68%) the highest of Trump's second term, driven by hawkish Fed and inflation concerns. This is a major headwind for growth/tech stocks and supports rotation into value and defensives. Yield curve steepening signals market doubts about Fed credibility.
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Updated Jul 31, 2026