10-Year Treasury's Worst Streak in a Century — Yet Buyers Step In
The 10-year Treasury is posting its worst run in over 100 years, but rising yields are pulling fresh money back into bonds.
The 10-year Treasury note is deep in historically ugly territory — we're talking the worst sustained stretch in more than a century. That's not a typo. Bonds have been getting crushed, and if you've been holding long-duration debt, you know the pain firsthand.
But here's the twist: rising yields are starting to look like an opportunity rather than a warning sign. When yields climb, prices fall — yes — but new money coming into the market locks in those higher rates. That's a completely different calculus than what bond buyers faced when the 10-year was pinned near zero.
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"The higher that yields go — for at least new money — it becomes more enticing to think about putting money into bonds," one strategist told MarketWatch. That's the key phrase: *new money*. If you're not sitting on legacy positions bought at rock-bottom yields, the current setup is actually worth a hard look.
This is the classic bond market tension playing out in real time. Existing holders are underwater, but fresh capital sees a yield profile that hasn't existed in years. The pain of the past creates the opportunity of the present — that's how cyclical markets work, and Treasuries are no exception right now.
Whether yields have peaked or have more room to run is still the critical unknown. But the narrative is clearly shifting from "avoid bonds" to "at what yield level do bonds become a buy?" For traders thinking in terms of risk/reward, that question is worth asking seriously. Continue reading at MarketWatch.com
