Jurrien Timmer(@TimmerFidelity):Yields have put in what appears to be a trading high at 5.36% and are back into the yellow zone (around 5%). Real yields have dropped as well, with the 10-year down to 2.64%. It’s interesting that the current AI-related growth scare happened when the real yield poked its head above the economy’s trendline (potential real GDP growth). Perhaps the economy’s speed limit acts as a natural brake for real yields with respect to growth.

Jurrien Timmer

@TimmerFidelity

Dir. of Global Macro @Fidelity. Student of history, chart maker, cyclist, cook. Helping investors break thru the clutter. Views are mine.

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Jurrien Timmer@TimmerFidelity

2026.10.28 21:06

Yields have put in what appears to be a trading high at 5.36% and are back into the yellow zone (around 5%). Real yields have dropped as well, with the 10-year down to 2.64%. It’s interesting that the current AI-related growth scare happened when the real yield poked its head above the economy’s trendline (potential real GDP growth). Perhaps the economy’s speed limit acts as a natural brake for real yields with respect to growth.