Treasury Yields Post Biggest Monthly Drop Since December 2023 as Investors Seek Safety
The 10-year Treasury yield fell to 4.928% in October amid a flight to safety, while the $6.3 billion Binance hack added to market caution.
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what happened
According to Market Talk, the 10-year US Treasury yield fell 0.364 percentage point in October, to 4.928%. That is its largest monthly decline since December 2023. The two-year yield dropped 0.306 point to 4.579%, its steepest one-month fall since August 2025. Investors moved into safe assets after September's historic selloff, turning the bond market into a buying spree.
The $6.3 billion theft from the crypto exchange Binance added to market nerves. According to the exchange's preliminary findings, attackers reached the system that processes withdrawals through a single compromised engineer's laptop. Commentators said the breach deepened worries among equity investors who were already uneasy about heavy spending on AI.
In Canada, David Rosenberg of Rosenberg Research argued that the Bank of Canada, which raised its policy rate by a quarter point, may be overestimating growth. He cited a 49,600 decline in jobs in August and a stalled GDP reading.
why it matters
The October drop in yields means bond prices rose and demand for safe assets grew. Traders are also watching the Treasury's quarterly refunding plans, which could shift issuance from long-term debt toward short-term bills. For crypto, the Binance hack remains a source of risk.
market impact
US Treasuries: safe-haven demand pushes yields lower; bitcoin under pressure after the Binance hack.
- UST 10Y pressure up — safe-haven demand lifts bond prices and pulls yields lower
- Bitcoin pressure down — the Binance theft weighed on appetite for crypto assets
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sources
- Treasury Yields End Month With Large Declines — Market Talk, 30 October 2026 at 20:20 UTC
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