SERIES: BAMLH0A0HYM2 (3.26)
VIXCLS (17.2)
INDPRO (103.9506)
UMCSENT (48.1)
CPIAUCSL (336.298)
CPILFESL (338.896)
DCOILWTICO (103.37)
MORTGAGE30US (7.24)
PCEPI (132.257)
ICSA (194000)
PAYEMS (159044)
UNRATE (4.2)
M2SL (23413.9)
NETLIQ (5745.73)
RRPONTSYD (4.375)
WALCL (6745635)
WTREGEN (999727)
DFII10 (2.63)
DGS10 (4.98)
DGS2 (4.61)
FEDFUNDS (3.75)
SOFR (3.94)
T10Y2Y (0.38)
FRED // DGS2
2-Year US Treasury Constant Maturity Yield
YIELDS Daily
OBSERVATION DATE: 2026-10-29 • UNIT: %
LATEST OBSERVATION
4.61 %
PRIOR / PERIOD Δ
4.67 ( -0.06)
YOY CHANGE
+ 1.02 %
DGS2 // 2-Year US Treasury Constant Maturity Yield (%)1Y: +1.14 (+32.9%)
2026-10-29OBSERVATION: 4.61% (%)
11 S&P 500 GICS SECTOR PEARSON CORRELATION MATRIX VS. DGS2 SORTED TAILWIND (+r) ──► HEADWIND (-r)
| ETF | GICS SECTOR | PEARSON r | CORRELATION BAR (-1 TO +1) | R² | BETA / REGIME TRANSMISSION |
|---|---|---|---|---|---|
| XLE | Energy | +0.01 r | | 0% | [+0.07% per +25 bps] Low-beta regime neutral across 5Y DGS2 cycle (261W) |
| XLF | Financials | -0.05 r | | 0% | [-0.24% per +25 bps] Low-beta regime neutral across 5Y DGS2 cycle (261W) |
| XLB | Materials | -0.08 r | | 1% | [-0.35% per +25 bps] Low-beta regime neutral across 5Y DGS2 cycle (261W) |
| XLK | Technology | -0.10 r | | 1% | [-0.62% per +25 bps] Defensive/rate-sensitive drag during DGS2 upswings |
| XLY | Consumer Discretionary | -0.12 r | | 1% | [-0.64% per +25 bps] Defensive/rate-sensitive drag during DGS2 upswings |
| XLI | Industrials | -0.12 r | | 1% | [-0.49% per +25 bps] Defensive/rate-sensitive drag during DGS2 upswings |
| XLRE | Real Estate | -0.15 r | | 2% | [-0.71% per +25 bps] Defensive/rate-sensitive drag during DGS2 upswings |
| XLP | Consumer Staples | -0.17 r | | 3% | [-0.53% per +25 bps] Defensive/rate-sensitive drag during DGS2 upswings |
| XLV | Health Care | -0.18 r | | 3% | [-0.68% per +25 bps] Defensive/rate-sensitive drag during DGS2 upswings |
| XLC | Communication Services | -0.20 r | | 4% | [-0.93% per +25 bps] Defensive/rate-sensitive drag during DGS2 upswings |
| XLU | Utilities | -0.24 r | | 6% | [-1.03% per +25 bps] Defensive/rate-sensitive drag during DGS2 upswings |
AI MACRO REGIME IMPACT BRIEF RESTRICTIVE
2-Year US Treasury Constant Maturity Yield (DGS2) Prints 4.61 % (Prior: 4.67 %)
Cross-asset regression across S&P 500 GICS sectors demonstrates significant factor dispersion to 2-Year US Treasury Constant Maturity Yield. Portfolio managers utilize DGS2 inflections to rotate between short-duration cash-flow sectors and long-duration growth multiples.
▲ REGIME TAILWIND SECTORS
XLE // Energy
Low-beta regime neutral across 5Y DGS2 cycle (261W) (Pearson r = +0.01, R² = 0%)
▼ REGIME HEADWIND SECTORS
XLU // Utilities
Defensive/rate-sensitive drag during DGS2 upswings (Pearson r = -0.24, R² = 6%)
XLC // Communication Services
Defensive/rate-sensitive drag during DGS2 upswings (Pearson r = -0.20, R² = 4%)
XLV // Health Care
Defensive/rate-sensitive drag during DGS2 upswings (Pearson r = -0.18, R² = 3%)
HISTORICAL ANALOG // Comparable to 2022–2025 post-ZIRP monetary normalization where real-rate sensitivity dominated equity factor attribution.
EQUITIES MOST SENSITIVE TO DGS2 STOCK BETA
| TICKER | LAST | % CHG | CORR (r) |
|---|---|---|---|
| GS Financials | $894.55 | -3.58% | -0.68 |
| XOM Energy | $187.25 | +2.16% | + 0.60 |
| JPM Financials | $337.04 | -1.90% | -0.59 |
| AMZN Consumer Discretionary | $240.35 | -1.41% | -0.52 |
| AVGO Technology | $326.08 | -5.48% | -0.51 |
| AAPL Technology | $344.63 | -1.23% | -0.48 |
| NVDA Technology | $204.64 | -4.22% | -0.47 |
| CAT Industrials | $622.75 | -3.81% | -0.45 |
| NFLX Communication Services | $62.08 | +0.05% | -0.43 |
| GOOGL Communication Services | $279.84 | -1.40% | -0.43 |