July 2026 Market Review

US Treasury yields moved higher in July, with the 10-year US Treasury closing 28 bps higher at 4.73%. Long-dated maturities underperformed the most, with the 5- to 30-year Treasury curve steepening about 10 bps. The increased volatility and move higher in yields was largely attributed to further escalations of the conflict in Iran, easier monetary policy, and higher growth and inflation expectations.

To receive the full market review, please contact us at [email protected] or subscribe to the monthly market review on our contact page.