The 10-year Treasury note yield reached its lowest point since September 23rd as the selloff in technology stocks gained significant momentum. This decline in yields is directly linked to the current downward pressure on equity markets, which appears to be the only factor capable of pushing yields lower at this time.
The acceleration of the tech sector's decline has established a trend where equity market weakness dictates bond market movements. Consequently, the 10-year yield has retreated to levels not seen in over two months as stock market volatility persists.