U.S. 10-year real yield hits 12-month high of 2.29% on June 23

The U.S. 10-year real yield rose to 2.29% on June 23, its highest level in 12 months and above the 2.24% reached in January 2025.

After that move, Commerce Department data released on June 25 showed personal income increased by $181.6 billion, or 0.7%, in May, while disposable personal income also rose 0.7% and personal consumption expenditures increased 0.7%. The same release said real personal consumption expenditures increased 0.3% in May, the PCE price index rose 0.4% from April and 4.1% from a year earlier, and the core PCE price index increased 0.3% on the month and 3.4% on the year. BEA also reported personal saving at $704.2 billion in May, leaving the saving rate at 3.0%.

Also on June 25, the Bureau of Economic Analysis revised first-quarter 2026 U.S. real GDP growth up to a 2.1% annualized rate from the prior 1.6% estimate. A day earlier, BEA said the U.S. current-account deficit widened by $5.8 billion, or 2.6%, to $226.8 billion in the first quarter of 2026. Census Bureau data released on June 24 showed new single-family home sales fell 7.3% in May to a seasonally adjusted annual rate of 580,000, the lowest level since January.