Stocktwits Weekly Spread: What Shaped Treasury Yields And The Dollar This Week

• An AI-linked equities basket (SOX) dropped 7.2% on Friday, and the Nasdaq 100 ended its worst month since 2025.
• The U.S. Dollar Index ended flat this week. 
• The yield curve remained range-bound, with 10-year yields easing by 7 basis points over the previous week.

American sovereign debt surged during the week through Oct. 30, driven by a sharp pullback in tech shares linked to artificial intelligence and expanding corporate credit risk spreads that accelerated safe-haven flows into Treasuries.

Primary revenue channels for major American tech giants are demonstrating initial signs of cooling, even as total corporate artificial intelligence investments approach the $750 billion mark for the year. Intel (INTC) shares slipped on soft Q4 guidance, while Alphabet (GOOG, GOOGL) missed Q3 analyst expectations. 

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Meanwhile, costs to protect the debt of numerous U.S. technology heavyweights against default hit fresh record highs Friday. The protection price for Intel bonds for five years surged as much as 22.4 basis points Friday morning to 127.9 basis points a year, Bloomberg reported.

The benchmark 10-year Treasury yield remained below the 5.00% threshold for the second straight week. The 30-year U.S. Treasury yield remained largely unchanged at 5.31% for the week ending Oct. 30.

The spread between the U.S. 10-year yield and the U.S. 2-year yield ticked marginally higher by 3 basis points to 0.33% in the week.

The iShares 20+ Year Treasury ETF (TLT) ended the week 0.6% higher, its fourth straight week of gains, while the shorter-duration iShares 1-3 year ETF (SHY) added about 0.3%. The slight recovery in the shorter-duration bond ETF may reflect easing short-term inflation pressure; however, markets still factor in one more rate hike in December.  

Retail sentiment on TLT and SHY was ‘bullish,’ with ‘high’ message volumes.

Yield Curve & Global Sovereign Markets 

Yield curve flattening trends persisted. However, short-duration yields eased almost in tandem with the long end, keeping the gap between 2-year and 10-year Treasuries compressed. 

Corporate credit spreads widened, signaling growing stress in corporate balance sheets. Weak tech results are deepening doubts over the AI borrowing boom even as tech giants boost their capital-spending plans. Companies have borrowed nearly $500 billion so far this year for data centers, chips, and other AI projects, according to data compiled by Bloomberg. The total was about $200 billion for all of 2025.  

Yet certain mega-cap tech entities have begun addressing escalating debt market anxiety. Oracle Corp., featuring the most heavily traded credit default swaps, recently announced plans to limit upcoming capital infusions to $20 billion over the next few years, helping its credit swaps improve. 

International sovereign bond markets followed similar trajectories. German 10-year Bund yields and other major sovereign yields mirrored the U.S. decline, reflecting broad-based global demand for safe-haven assets. 

Meanwhile, the Dollar Spot Index was flat this week, extending last week’s weakness against a basket of developed market currencies. 

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