US Treasury yields dropped to their lowest in over a month on Friday, 30 October. The 10-year yield was about 4.896% and the 30-year about 5.262%, per Reuters reporting. Alphabet's results revived concerns about AI spending, weighing on stocks and drawing demand for bonds.
An OCBC strategist noted that the reaction was unlike a typical energy-driven risk-off move: yields fell and the dollar stayed subdued rather than rallying. The dollar index was near 101.77.
Energy remains the other big theme. Brent crude is on track for an 11.5% gain in October, its fourth straight monthly rise and its longest streak in over two years, with the Middle East conflict unresolved. Spot gold was quoted near $3,987.5 an ounce on the same day, per the same market data page.
For traders, lower yields and higher oil pull in different directions for many currencies, which can make pairs choppy. Our primer on real yields and currencies explains why yields matter, and oil shocks and stagflation covers the energy side.
Market commentary only, based on data observed on 30 October 2026. Not a trade recommendation.