October 23, 2026

Widespread declines in U.S. Treasury bond yields. Pullbacks in major stock indices, with the Nasdaq falling 2.6%

International

U.S. Treasury yields saw broad declines on Thursday. The yield on the 1-year Treasury note fell from 4.52% to 4.41%, while the yields on the 3-year and 10-year notes dropped from 4.89% to 4.72% and from 5.13% to 4.96%, respectively.

Meanwhile, major U.S. stock indices closed with mixed results. The S&P 500 retreated 1.2% and the Nasdaq fell 2.6%, while the Dow Jones ended virtually unchanged. Year-to-date, these indices have posted gains of 11.9%, 11.9%, and 10.0%, respectively.

In the Eurozone, preliminary Purchasing Managers' Index (PMI) data for October were released. Both indicators remained in expansionary territory, though they showed a decline compared to September. The Services PMI came in at 51.7—below the 52.5 expected—while the Manufacturing PMI reached 52.4, compared to a projected 52.7. Meanwhile, preliminary PMI data for the United States are set to be released today.

Separately, in Japan, the Consumer Price Index (CPI) for September rose 2.1% year-on-year, up from 1.9% the previous month. The core measure, which excludes fresh food, also increased by 2.1% year-on-year—in line with market expectations and higher than the 1.7% recorded in August.

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