Real vs. Nominal Yield
The 10-year nominal Treasury yield decomposed into its real (10-year TIPS) yield and the implied inflation breakeven. Real yields are the true cost of capital and the dominant driver of valuations for long-duration assets (tech, gold, growth). A rising nominal yield driven by real rates is a very different signal than one driven by inflation expectations.
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| Date | Nominal | Real | Breakeven |
|---|---|---|---|
| 2026-08-11 | 4.7 | 2.43 | 2.27 |
| 2026-08-10 | 4.72 | 2.43 | 2.29 |
| 2026-08-07 | 4.65 | 2.4 | 2.25 |
| 2026-08-06 | 4.69 | 2.43 | 2.26 |
| 2026-08-05 | 4.63 | 2.41 | 2.22 |
| 2026-08-04 | 4.63 | 2.4 | 2.23 |
| 2026-08-03 | 4.7 | 2.43 | 2.27 |
| 2026-07-31 | 4.75 | 2.47 | 2.28 |
| 2026-07-30 | 4.68 | 2.41 | 2.27 |
| 2026-07-29 | 4.67 | 2.41 | 2.26 |
| 2026-07-28 | 4.61 | 2.41 | 2.2 |
| 2026-07-27 | 4.65 | 2.44 | 2.21 |
| 2026-07-24 | 4.69 | 2.43 | 2.26 |
| 2026-07-23 | 4.71 | 2.43 | 2.28 |
| 2026-07-22 | 4.67 | 2.39 | 2.28 |
| 2026-07-21 | 4.63 | 2.37 | 2.26 |
| 2026-07-20 | 4.6 | 2.35 | 2.25 |
| 2026-07-17 | 4.55 | 2.31 | 2.24 |
| 2026-07-16 | 4.57 | 2.35 | 2.22 |
| 2026-07-15 | 4.55 | 2.32 | 2.23 |
Source: Akyla · akyla.ai