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Ten (10) YR

“The 10-year is rising” usually means the yield on the US 10-year Treasury note is rising, not that the note’s price is rising. This government security pays fixed interest every six months and returns its face value at maturity. Its yield is closely followed because it influences many longer-term borrowing costs and is often used as a reference for mortgages, company debt, and asset valuations. Bond prices and yields move in opposite directions. When investors sell the note, its price can fall while its yield rises. On market screens, “10 YR” may refer to the note, its yield, or a related futures contract, so the label should be checked.

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