US Treasury yields plunge to sharpest monthly fall in nearly three years as tech stocks tumble

US Bond Market

The yield on the benchmark 10‑year US Treasury note recorded its biggest monthly decline in nearly three years. The fall followed a sharp sell‑off in technology stocks, which moved investors toward safer assets such as government bonds. Earnings reports from Amazon and Intel added to the nervousness, as both firms warned that rising AI costs are squeezing profits. The tech sell‑off was led by major chip makers and software firms that posted steep price drops. Despite the yield dip, traders kept their view that the Federal Reserve is likely to raise interest rates in December, a view reinforced after the Fed’s latest policy meeting.

Reliance Fundraise

Reliance Industries said it will raise up to Rs 15,000 crore by issuing non‑convertible debentures through a private placement. The announcement came with its second‑quarter results, which showed net profit jumping 41 % year‑on‑year to Rs 25,548 crore. The company said the funds will support its expansion plans and strengthen its balance sheet. The NCD issue is aimed at institutional investors and will have a multi‑year tenor.

Context

A slide in Treasury yields often signals a flight to safety after equity market turbulence. Large corporate debt raises like Reliance’s are a typical way Indian firms secure long‑term financing when market conditions are favorable.