US 10-Year T-Note Yield Stays at 4.65%, Gold at $4538.60: Markets Overview for August 20, 2026

On August 20, 2026, the yield on the US 10-year T-Note remains stable at 4.65%, unchanged from the previous day, according to official data from the Federal Reserve (FRED). Gold is trading at $4538.60 per ounce, also unchanged.

10-Year T-Note Yield: 4.65%

The 10-year US Treasury Note is the benchmark for long-term interest rates globally. This yield directly impacts borrowing costs for businesses and households in the United States and influences global mortgage rates. At 4.65%, this level remains high compared to the 2-3% range seen in the 2010s. For French investors, this figure is critical as it affects the valuation of equities, particularly technology stocks, and shapes European Central Bank (ECB) monetary policy decisions.

Short-Term Rates (Fed Funds 3M): 3.70%

The federal funds rate at 3 months, as measured by the Fed's proxy, is 3.70%. This rate represents the cost at which banks lend to each other overnight. It reflects Federal Reserve monetary policy. A rate of 3.70% indicates a moderate tightening, encouraging savings and curbing inflation. For French savers, this level impacts the returns on regulated savings accounts and euro-denominated funds, though with a lag due to ECB policies.

EUR/USD Exchange Rate: 1.17

The euro-to-dollar exchange rate is at 1.17, unchanged. This rate means that 1 euro can be exchanged for 1.17 dollars. For French investors, this level favors purchasing US assets (stocks, real estate) as it makes dollar-denominated investments cheaper in euros. Conversely, it reduces the competitiveness of European exporters. A euro valued at 1.17 dollars is near the average of the past decade.

Gold: $4538.60 per Ounce

Gold is trading at $4538.60 per ounce, unchanged. Gold is a safe-haven asset sought during periods of economic and geopolitical uncertainty. This elevated level, compared to the $2000-$3000 range in previous years, reflects sustained demand for protection against inflation and market risks. For French investors, gold represents a diversification strategy, often accessed through ETFs or precious metals, though it generates no income and is subject to price volatility.

West Texas Intermediate (WTI) Crude Oil: $84.63 per Barrel

A barrel of US light sweet crude oil (WTI) is at $84.63, unchanged. This price directly influences energy costs and, consequently, inflation. A barrel at $84.63 is moderate but still weighs on household and business expenses. For France, this translates to higher pump prices and energy bills, potentially reducing purchasing power.

S&P 500 Index: 7707.98 Points

The S&P 500, comprising the 500 largest US companies, is at 7707.98 points. This level reflects investor confidence in the US economy. Such a high value indicates anticipation of profit growth but also carries the risk of market correction. For French investors through a PEA or life insurance policy, the S&P 500 serves as a global market barometer, often accessible via ETFs.

VIX Index: 14.89 Points

The VIX, known as the "fear index," measures the implied volatility of S&P 500 options. At 14.89 points, it is low, indicating minimal market anxiety. A low VIX typically signals stability but can also signal excessive confidence. For individual investors, a low VIX may be a good time to review portfolio diversification.

Trends and Outlook

The data from August 20, 2026, shows general stability across key indicators with no significant changes. This lack of movement may reflect a period of waiting ahead of potential policy decisions.