29/09/2026
The US bond market may be signalling a structural shift in the cost of capital.
With 10-year Treasury yields above 5%, higher neutral rates, heavy government borrowing and a surge in AI-related debt issuance are reshaping the backdrop for equities and credit. While equity markets remain resilient, widening credit spreads suggest the repricing is beginning to reach other parts of the market.
This week's GCIO review examines the growing divergence between bonds, equities and credit, and why the changing rate regime could have broader implications for portfolios.
Read more: https://tinyurl.com/adpa36zf
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