10-Year Treasury Yield Hits 4.30%, Squeezing Tech Multiples While JPMorgan Posts 129% Three-Year Return
The 10-year Treasury yield has climbed from 3.97% to 4.30%, compressing valuations for high-growth technology firms while traditional banks benefit from wider net interest margins. Okta has lost 65.3% over five years despite a recent 22.9% monthly bounce, while JPMorgan Chase has returned 107.7% over the same period. The divergence reflects a structural rotation away from future-cash-flow growth stories toward rate-advantaged financial institutions.
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