China kept benchmark loan rates unchanged for October, after the slowdown in the world’s second-largest economy showed signs of stabilization following recent policy support.

The People’s Bank of China kept its one-year loan prime rate — the peg for most household and corporate loans in China — unchanged at 3.45%. The five-year benchmark loan rate — the peg for most mortgages — was held at 4.2%, according to a statement Friday from the Chinese central bank.

— Clement Tan

The yield on the benchmark U.S. 10-year Treasury crossed 5% for the first time in 16 years.

The 10-year Treasury yield hit 5.001% at 5:02 p.m. ET, the first time it has traded above that key level since July 20, 2007 when it yielded as high as 5.029%.

— Gina Francolla, Christine Wang

Traders are closely watching the 10-year Treasury yield to see if it finally hits 5%  — a first since 2007 — but eagle-eyed investors with a long-term perspective may find some solid bargains if they know where to look.

For starters, investors who have been parking their fixed-income portfolios in cash and near-dated Treasurys may find an opportunity to add duration. Duration is a measure of a bond’s price sensitivity to changes in interest rates, and longer-dated bonds have greater duration.

“You don’t have to go out 15 or 20 years when we’re talking about duration,” said Shannon Saccocia, chief investment officer of NB Private Wealth. “You can go more intermediate — 4 or 5 years — and start to lock in what are very attractive yields from a near-term perspective, but fairly attractive even from a longer term.”

Investors can purchase these longer-dated issues over the next few months, gradually adding duration, she said.

By adding duration, investors avoid the problem of reinvestment risk — that is, running out of places to obtain competitive yields once their short-term fixed income investments mature.

Read here for more opportunities in a higher rate world.

— Darla Mercado

Individual investor bullishness about the outlook for stocks over the next six months fell to 34.1% in this week’s survey by the American Association of Individual Investors, down from 40.0% last week, and the fifth week in six that optimism stood below the long-run historical average of 37.5%.

Bearishness fell in the latest week also, to 34.6% from 36.5% last week, but still above the long-term historic average of 31.0%.

Those who said they were neutral about the outlook for stocks widened to 31.3% from 23.5%, roughly in line with the historic average of 31.5%.

— Scott Schnipper

Check out the companies making headlines in after-hours trading.

• SolarEdge — Shares plunged 20% after the solar company lowered its third-quarter revenue guidance to between $720 million and $730 million, down from prior guidance of between $880 million and $920 million. CEO Zvi Lando said the company experienced “substantial unexpected” cancellations and pushouts of existing backlog from its European distributors. Enphase Energy and First Solar lost 14% and 4.9%, respectively, on the back of SolarEdge’s downbeat news.
• Intuitive Surgical — Shares dropped 7% after Intuitive Surgical missed third-quarter revenue expectations, posting $1.74 billion while analysts had forecast $1.77 billion, according to LSEG, formerly known as Refinitiv. The company reported adjusted earnings per share of $1.46, surpassing analysts’ expectations of $1.41 per share.
• CSX — The transportation company’s shares dipped about 1% after the company’s third-quarter earnings fell short of analysts’ estimates. CSX posted earnings of 42 cents per share, while analysts polled by LSEG called for 43 cents per share. Revenue came in above expectations at $3.57 billion, while analysts forecast $3.55 billion.

Read here for the full list.

— Pia Singh