Treasury Yields Push Higher Despite Decline in Oil Prices -- WSJ

By Angus Berwick

Bond yields are picking up momentum again.

Yields on benchmark 10-year Treasury notes are ticking higher, on course to hit yet another 19-year high. The 30-year yield rose to 5.612%, its highest level since 2002.

The 2-year Treasury however fell in afternoon trading after New York Fed President John Williams said that the central bank need not rush to continue raising interest rates. Stocks perked up a bit on the Williams remarks, but remain lower on the day.

The moves come as elevated oil prices have piled pressure on central banks to lift interest rates, hitting companies and consumers with higher borrowing costs. The Reserve Bank of Australia today raised its rate to a 15-year-high.

At the moment, though, Brent crude futures are giving up some of their recent gains. Oil flows out of the Middle East are recovering, which should help ease the energy supply crunch that has dialed up inflationary pressures worldwide. However, this also raises the risk that Tehran will resort to military escalation to bolster its position.

Higher bond yields, meanwhile, are pushing the dollar higher. The greenback has gained 1.5% against a basket of other currencies this September, following two months of declines.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

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September 29, 2026 14:14 ET (18:14 GMT)