A yield peak 5.36 percent on the US 10-year Treasury was reached during the week of October 5 to 9, 2026, a level unseen since 2002, before easing back toward 5.24% on Friday, around 8:15 PM GMT, according to Boursorama. Despite this bond market tension, Wall Street closed the week higher, while telecom stocks plunged on Friday after an announcement from SpaceX.
A Yield Peak Unseen Since 2002
Amid inflation fears fueled by surging energy prices, the 10-year yield surged this week to 5.36%, a level unseen since 2002, reports Boursorama. This peak then eased, with the yield coming back toward 5.24% on Friday, around 8:15 PM GMT. Rising bond yields mechanically raise the cost of credit and typically weigh on stock valuations, which makes Wall Street’s higher weekly close all the more notable.
Telecoms Fall After SpaceX Spectrum Announcement
On Friday, the three major US telephone carriers fell sharply after SpaceX announced the purchase of a portfolio of low-frequency spectrum licenses. Also among corporate movers, telephone carriers dropped, with Verizon (-8.75%), AT&T (-9.81%), and T-Mobile (-13.27%), according to the same source. SpaceX revealed on Thursday that it had bought this portfolio of licenses, an acquisition that brings it closer to launching its own mobile network, announced the same day as the sharp decline of the three legacy carriers.
| Indicator | Value | Date |
|---|---|---|
| US 10-year Treasury yield (weekly peak) | 5.36% | Week of October 5 to 9, 2026 |
| US 10-year Treasury yield (around 8:15 PM GMT Friday) | 5.24% | October 9, 2026 |
| Verizon | -8.75% | October 9, 2026 |
| AT&T | -9.81% | October 9, 2026 |
| T-Mobile | -13.27% | October 9, 2026 |
Weekly Agenda: Bond Market Holiday and Start of Bank Earnings Season
Monday, October 12 is a US federal holiday (Columbus Day). Stock exchanges, the NYSE and Nasdaq, hold a normal session that day, but the bond market remains closed per the schedule recommended by SIFMA, according to AARP. This bond market closure comes right after the yield peak observed the previous week, which will limit bond trading at the very start of the week.
Tuesday, October 13, before the opening bell, three major banks release their third-quarter 2026 results. JPMorgan Chase will release its results around 7:00 AM (New York time), followed by a conference call at 8:30 AM, according to its official press release. Goldman Sachs will announce its results around 7:30 AM (New York time), with a call at 9:30 AM. Citigroup will publish its results around 8:00 AM (New York time), with a live webcast at 11:00 AM.
Wednesday, October 14, Bank of America will publish its results around 6:45 AM (New York time), followed by an investor call at 8:30 AM. Morgan Stanley will follow with a release around 7:30 AM (New York time) and a conference call at 9:30 AM, according to its press release. These five bank releases open the third-quarter earnings season and will be closely watched to gauge the impact of rising rates on net interest margins.
Frequently Asked Questions
Why did the 10-year yield reach 5.36%?
This peak, unseen since 2002, is linked according to Boursorama to inflation fears fueled by surging energy prices during the week of October 5 to 9, 2026. The yield then eased back toward 5.24% by Friday’s close.
Why did telecom stocks fall on Friday?
Verizon, AT&T, and T-Mobile dropped after SpaceX announced the purchase of a portfolio of low-frequency spectrum licenses, a move that brings the company closer to launching its own mobile network and threatens the position of the legacy carriers.
Are US markets open on October 12?
Yes for stocks: the NYSE and Nasdaq hold a normal session that day despite the Columbus Day federal holiday. However, the bond market remains closed that same day per the schedule recommended by SIFMA.
Which banks report earnings this week and when?
JPMorgan Chase, Goldman Sachs, and Citigroup release their third-quarter results on Tuesday, October 13, before the opening bell. Bank of America and Morgan Stanley follow on Wednesday, October 14, also before the market opens.
For more on the mechanisms mentioned in this briefing, see our article on overnight financing fees on a CFD and on required margin on a CFD. You can also follow this busy week with the October 9, 2026 briefing and the October 8, 2026 briefing.