1-Month Rolling Correlation of 10-Year UST Yield Change and S&P 500 Returns

Since the start of the Middle East conflict, U.S. Treasuries have struggled to play their traditional diversification role. The one-month rolling correlation between 10-year yields and equitie returns has sunk to a multi-decade low.

Image: Goldman Sachs Global Investment Research

1-Month Rolling Correlation of 10-Year UST Yield Change and S&P 500 Returns