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Markets Down & On Key Support, Yen Weakness

Yields hit new highs as equities fall, the dollar strengthens, and credit spreads widen on mounting AI capex concerns.
Published: July 24, 2026
Written by:
James Brodie

James Brodie

Head of Learning & Development, Flux
James Brodie
Reviewed by:
Donna Dong

Donna Dong

Research Analyst, Flux
Donna Dong

Yields spike, equities sink, dollar jumps. The US 30-year is now 1bp away from new highs since May 2006, this will be next weeks headlines.

This is a quarterly chart going back to 1980’s. Trending! (Chart 1: Bloomberg) The US 10Y Note Yield officially surges above 4.70% for the first time since January 2025.

S&P falls 1.2%, Nasdaq was down 1.9% and sits on key support. (Chart 2: Bloomberg)
Yen weakens to another multi decade low, 163.70 vs USD. With the dollar about to break higher.
US initial jobless claims just came in at the lowest level since 1969.
Carnage in hyperscaler bond land: IG bond spreads exploding every day, as credit investors refuse to fund memory chip purchases any longer. CDS are following.

Yen weakens to another multi decade low, 163.70 vs USD. With the dollar about to break higher.
US initial jobless claims just came in at the lowest level since 1969.

Written by

James Brodie

Head of Learning & Development, Flux
James Brodie

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