Week of 21 - 25 September 2026 | Global yields surge 

In this edition of Amundi's Weekly Market Directions: 

  • In US markets, after the 10- and 30-year yields, the 5-year maturity also moved above the of 5% threshold, the highest level in two decades.
  • The move is global. German bonds also rose, with the 10-year reaching 3.6%, its highest level since 2009, while the Japanese 10-year climbed above 3%.
  • Interest rate levels are becoming increasingly attractive, creating opportunities to add portfolio income through a diversified* and dynamic approach.
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Monica Defend

Monica Defend

Head of Amundi Investment Institute

We are in a regime of higher yields for longer across the globe. Bond volatility is likely to stay higher than in the past decade, but yields are becoming increasingly attractive.

Monica Defend, Head of Amundi Investment Institute

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Unless otherwise stated, all information contained in this document is from Amundi Asset Management S.A.S. and is as of 28 September 2026. Diversification does not guarantee a profit or protect against a loss. The views expressed regarding market and economic trends are those of the author and not necessarily Amundi Asset Management S.A.S. and are subject to change at any time based on market and other conditions, and there can be no assurance that countries, markets or sectors will perform as expected. These views should not be relied upon as investment advice, a security recommendation, or as an indication of trading for any Amundi product. This material does not constitute an offer or solicitation to buy or sell any security, fund units or services. Investment involves risks, including market, political, liquidity and currency risks. Past performance is not a guarantee or indicative of future results.
 

Date of first use: 28 September 2026

Doc ID: 5961793