The 5x Problem: Why a 5% 10-Year Treasury Is Putting Pressure on Stock Prices A retail investor's guide to the tug-of-war between bond yields and stocks, with data as of the October 2, 2026 close (See the latest news for any ticker on Tickeron.) The 10-year Treasury now yields 5.28%, up 112 basis points since December 31, 2025. Earlier this week it hit its highest level since 2002 (CNBC). The S&P 500 pays about 1% in dividends. SPY yields 0.98% and IVV yields 1.09%, so the 10-year pays roughly 4.9x to 5.4x as much as stocks. That confirms the "about 5.3x" figure. History suggests this gap was last this wide in the late 1990s, when the 10-year yielded 5% to 6% and dividend yields sat near record lows. $SPY $IVV $VOO $TLT $IEF $SCHD $VIG $XLU