Chris Munson
SVP and Managing Director US Sales and Operations
The Money House

Bond Yields Not Eager to Follow Stocks Lower

Bond Yields Not Eager to Follow Stocks Lower

Bonds were initially stronger in the overnight session with 10yr yields briefly falling under 4.90%. The rally generally aligned with overnight losses in the stock market, at least at first. When European markets came online, bonds began drifting more sideways even as stocks gradually declined to new lows. Given that today is month-end and that much of this month has seen quite a lot of volatility, it's reasonable to expect compulsory month-end trades to set the tone. Translation: bonds could do their own thing for their own reasons regardless of what's going on in stocks. Some analysts are reporting that month-end rebalancing models are calling for selling some bonds and buying some stocks, but we wouldn't lose sleep over that one unless stocks end up surging into positive territory. 

Latest Video Analysis

Tech Jitters are Back. Bonds Like It

MBS & Treasury Markets
UMBS 6.0
99.75
-0.08 
10YR TREASURY
4.946
+0.025 
10/30/2026 11:00AM EST
FT is reporting Anthropic may not receive an "investment grade" rating after its forthcoming IPO. This would make AI-related financing more expensive and generally contribute to the "tech jitters" that have helped Treasuries/MBS over the past few weeks.  MBS instantly erased most of the losses on the news. 6.0 coupons are now down only 1 tick (.03) versus 4 ticks (.125) before the news. 10yr yields are up 1bp at 4.933, but down more than 2bps since the news came ...   READ MORE
Today's Mortgage Rates
30YR Fixed
7.29%
-0.06% 
15YR Fixed
6.95%
-0.05% 
10/29/2026
After 4 rather uneventful trading days, the bond market (which underlies interest rate movement) experienced a bit more volatility today. Fortunately, it was volatility in a friendly direction. 10yr Treasury yields ended the day at their lowest level since September 22nd. Mortgage rates dropped to their lowest mark since September 23rd for the average lender.  [thirtyyearmortgagerates] Bond gains coincided with moments of weakness in the stock market, primarily at...   READ MORE
Economic Calendar
Time Event Period Actual Forecast Prior
Friday, Oct 30
8:30AM Q3 Employment costs (%) Q3 0.8% 0.8% 0.9%
9:45AM Oct Chicago PMI Oct 55.3 56.1 58.8
Monday, Nov 02
9:45AM Oct S&P Global Manuf. PMI Oct 56 55.9
10:00AM Oct ISM Manufacturing Employment Oct 52.7
10:00AM Oct ISM Mfg Prices Paid Oct 77.5 77.9
10:00AM Oct ISM Manufacturing PMI Oct 54.7 54.5
10:00AM Sep Construction spending (%) Sep 0.6% 0.9%
2:00PM Loan Officer Survey
7:00PM Midterm Elections (%)
Chris Munson
SVP and Managing Director US Sales and Operations
The Money House