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10-year Treasury yield leaps to fresh 19-year high after hot economic readings
Investors weighed Federal Reserve hawkishness and stronger U.S. business activity as the 10-year yield fell to 4.947% and oil extended a six-day slide.
- On Wednesday, September 23, 2026, US shares dropped while the benchmark 10-year Treasury yield jumped to 5.054%, its highest level since 2007, after data showed business activity accelerated to a more than five-year high.
- S&P Global reported the flash US Composite PMI Output Index increased to 58.4 this month, its highest level since July 2021, fueling expectations for further Federal Reserve interest rate hikes.
- Fed funds futures traders are now pricing in 73% odds of an October rate hike, while the interest-rate sensitive 2-year Treasury yield rose to 4.862%, marking its highest level since June 2024.
- Higher interest rate expectations pushed the dollar to multi-week highs against the euro, which dropped 0.5% to $1.1389, as analysts noted the data underscores the Federal Reserve's hawkish policy stance.
- Brent crude oil futures for November delivery fell 0.8% to $98.49 a barrel, marking the longest losing streak since August 2025, as markets balance economic data against ongoing geopolitical uncertainties.
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The Dow Jones lost 0.68%, the Nasdaq lost 1.13% and the expanded S&P 500 index fell 0.75%. After two consecutive sessions of growth, after which the Nasdaq reached a new high record, the New York indices lost strength as a result of "the combination of higher oil prices and higher bond yields," reports AFP Angelo Kurkafas, analyst for fortune manager Edward Jones. Market players became aware on Wednesday of the PMI Flash index for the month of S…
·Issy-les-Moulineaux, France
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Coverage Details
Total News Sources61
Leaning Left8Leaning Right11Center19Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 21%
C 50%
R 29%
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