The U.S. 10-Year Treasury Note yield rose to 4.129% today, up from a previous close of 4.085%, signalling a market rejection of the Federal Reserve’s recent rate cut, as evidenced by the yield’s sharp upward trend in the chart. This unexpected yield increase contradicts the Fed’s intent to lower borrowing costs, with historical data from the Federal Reserve Bank of St. Louis showing that post-rate-cut yield spikes often correlate with heightened inflation expectations or market skepticism, potentially driving mortgage rates higher as bond yields inversely affect them. Recent global economic shifts, including Trump-era tariffs and their inflationary impact, may be pressuring yields upward, challenging the Fed’s monetary policy effectiveness.