10-Year T-Note Yield Stays at 4.70%: US Rate Stability, Gold, and Oil Hit Highs in August 2026

The yield on the 10-year US Treasury note is set at 4.70% as of August 24, 2026, unchanged from the previous day, according to data published by the St. Louis Federal Reserve (FRED). This stability comes amid gold reaching $4,710.50 per ounce and WTI oil trading at $84.76 per barrel, levels reflecting persistent tensions on global markets.

10-Year T-Note Yield at 4.70%: Benchmark Rate Remains Stable

The 10-year T-Note is the US Treasury bond maturing in ten years. Its yield, fixed at 4.70%, is a key indicator for global financial markets: it influences mortgage interest rates, corporate bond yields, and sovereign debt worldwide. For a French individual investor, this level of yield means borrowing costs remain high, potentially impacting sectors sensitive to rates such as real estate or growth stocks.

This stability in the long-term US rate follows a period of increase: FRED data shows the yield remained at 4.70% during the August 24 trading session, unchanged. No recent trend is visible in the provided data, but this elevated level compared to previous years reflects the restrictive monetary policy of the Federal Reserve, which maintains its high policy rates to combat inflation.

Short-Term Rate at 3.71%: The Spread with the 10-Year Remains Significant

The three-month Fed Funds proxy rate, reflecting short-term interest rates set by the Federal Reserve, stands at 3.71% as of August 24, 2026, also unchanged. This indicator measures the cost of credit for commercial banks and serves as a reference for many short-term savings products. The spread between the short-term rate (3.71%) and the long-term rate (4.70%) is 0.99 percentage points, a normal configuration reflecting investor expectations about growth and inflation.

For French savers, this level of short-term rates means that regulated savings products like the Livret A (which has been fixed at 3% since February 2025) offer lower yields than US rates, potentially encouraging diversification into dollar-denominated money market funds, but with currency risk.

Gold at $4,710.50/oz: Safe-Haven Asset Reaches Record Levels

Gold is priced at $4,710.50 per ounce, stable for the session. Gold is a traditional safe-haven asset, sought after during periods of economic or geopolitical uncertainty. This elevated level, close to its all-time high, can be explained by several factors: central bank demand, geopolitical tensions, and the search for protection against inflation. For a French investor, gold can be a diversification asset, but it is important to note that its price is denominated in dollars: a strengthening of the euro could reduce its return in euros.

The data provided does not allow analysis of gold's recent trend, but its current level of $4,710.50/oz exceeds the five-year average, indicating strong demand for safe-haven assets.

WTI Oil at $84.76: Prices Remain Elevated

A barrel of WTI (West Texas Intermediate), the benchmark US crude oil, trades at $84.76, unchanged. This level is significant for the global economy: high oil prices fuel inflation, as they impact transportation, heating, and production costs. For French households, this translates to higher pump prices and pressure on purchasing power.

WTI oil is priced in dollars, so fluctuations in the EUR/USD exchange rate affect its price in euros. The data shows an EUR/USD exchange rate of 1.17, meaning one euro is worth 1.17 dollars.