McDonald's Stock and 10-Year Treasury Yields Show Inverse Correlation

McDonald's (MCD) stock has declined approximately 32% since early March, mirroring a nearly identical 32% rise in the 10-year US Treasury yield. Data through September 28, 2026, highlights this inverse relationship, with the yield reaching a 19-year high of 5.24% while the stock fell to $233.60. Analysts suggest potential reasons include McDonald's $40 billion debt load, rising borrowing costs, consumer pushback against menu prices, and recent Federal Reserve interest rate hikes.