Average 1-Month S&P 500 Return vs. Change in 10-Year U.S. Treasury Yields

When US Treasury yields rise quickly, equity valuations usually fall hardest among high-growth, richly priced names. One risk for 2026 is a sudden jump in interest rates.

Image: Goldman Sachs Global Investment Research

Average 1-Month S&P 500 Return vs. Change in 10-Year U.S. Treasury Yields