SoFi, Fiserv, MarketAxess Fall as 10-Year Yield Tops 4.5% After Jobs Report

Shares of SoFi Technologies (SOFI), Fiserv (FI), and MarketAxess Holdings (MKTX) declined on June 6, 2026, after the May U.S. jobs report sent Treasury yields surging, directly threatening the financial sector’s business models. The 10-year yield climbed above 4.5% and the 30-year yield breached 5%, thresholds that amplify mark-to-market losses on bond portfolios and raise the hurdle rate for new private credit and infrastructure fund deployment. For asset managers, a 30-year above 5% complicates long-duration deal economics and reduces the relative appeal of illiquid alternatives versus risk-free income. CME FedWatch data shifted toward pricing potential rate hikes by year-end, further pressuring the recovery in M&A and IPO advisory fees. SoFi, which has had 35 daily moves exceeding 5% over the past year, fell to $15.94, leaving the stock down 41.9% year-to-date and trading 50.5% below its November 2025 peak. Fiserv and MarketAxess similarly pulled back amid the sector-wide rate repricing.