Sanmina, Methode Electronics Fall as 30-Year Yield Tops 5% After Jobs Report

Shares of Sanmina (SANM) and Methode Electronics (MEI) slid on June 6, 2026, after the May U.S. jobs report pushed the 30-year Treasury yield above 5%, a level that directly increases financing costs for large-scale grid infrastructure, data center power systems, and industrial electrification projects. The yield surge removed a rate-cut tailwind sector investors had relied on. The jobs data implied the Federal Reserve could hike rates further, threatening multi-year capital commitments. Utility and industrial customers, highly sensitive to long-term borrowing costs, now face a calculus that may lengthen order cycles and defer projects. Methode Electronics, whose shares are historically volatile, experienced one of its rare large moves. The stock has gained 68.9% year-to-date but at $11.32 remains 18.4% below its May 2026 52-week high of $13.87. Sanmina also fell amid the broad sector pressure sparked by the financing shock.