Markets weigh rising yields and AI exuberance

Amundi’s Vincent Mortier and Monica Defend assess how higher bond yields, geopolitical uncertainty and AI-related capital spending are reshaping global markets. 2026.10.07 - Markets weigh risi…

• US 10-year Treasury yields briefly reached 5.34% as stronger activity, inflation risks and heavy AI-related corporate issuance increased pressure on bonds.
• Credit and European sovereign spreads are widening, with French debt particularly affected by fiscal and political uncertainty.
• Higher yields improve bond return potential, but persistent volatility and dispersion favour active diversification and higher-quality fixed income.

Explore the full report for Amundi’s view on navigating this higher-rate regime.