The yield on the 10-year note finished July 10, 2026 at 4.56% while the 2-year note ended at 4.21%. The chart below overlays the daily performance of several Treasury bonds, starting from the pre-recession equity market peaks, along with the Federal Funds Rate (FFR) since 2007. {chart} This next table shows the highs and lows of yields and the Federal Funds Rate (FFR) since 2007. {table} Here is a long-term view of the 10-year yield starting in 1965, well before the 1973 oil embargo that triggered the era of ‘stagflation’ (economic stagnation coupled with inflation) {chart} An inverted yield curve is when longer-term ... (full story)