# Treasury yields hit 20-year high as oil surges

> U.S. Treasury yields spike to 5.13% as oil jumps above $103 per barrel, triggering stock drops
- Title: Treasury yields hit 20-year high as oil surges · NBC News
- Summary: U.S. Treasury yields spike to 5.13% as oil jumps above $103 per barrel, triggering stock drops Rising oil prices and inflation data boosted bond yields…
- Keywords: treasury yields, oil prices, 10-year bond, mortgage rates, s&p 500, nasa, fed rate hikes, iran war, diesel ban, brent crude, us crude oil, inflation
- Source: NBC News — https://nbcnews.com/business/energy/treasury-yields-oil-stocks-rcna599398
- Author: Steve Kopack
- Published: 2026-09-23T20:28:38.536+00:00
- Read time: 1 min
- Topics: treasury yields, oil prices, 10-year bond, mortgage rates, s&p 500, nasa, fed rate hikes, iran war, diesel ban, brent crude, us crude oil, inflation
## Yields surge to 20-year high
U.S. 10-year Treasury yields hit 5.13%, the highest since 2007, pushing mortgage rates to 7.26%.

> US business activity growth accelerated for a fourth successive month in September to reach the fastest rate for over five years
## Oil prices rebound
Brent crude oil rose 3.8% to $103.08 per barrel, ending a five-day decline streak.
## Inflation data sparks fears
S&P Global reported rising business input costs, with fuel and transport costs spiking due to higher oil prices.

> Firms input costs have jumped in September at the steepest rate for four years, with fuel and transport costs spiking higher thanks to the rise in oil prices
## Fed signals rate hikes
Federal Reserve governor Michael Barr warned of further rate hikes to combat inflation, citing increased risks.

> Risks to achieving our inflation target have increased, while risks to the labor market have receded
## Iran war disrupts oil
A cargo vessel was struck in the Strait of Hormuz, sparking oil price volatility after Trump's U.N. comments.
## Diesel export ban
Trump proposed a diesel export ban, but energy officials warned it would raise U.S. gas prices and harm global markets.

> Removing U.S. diesel from the market could result in reduced refinery runs, global economic damage and even higher U.S. prices
## Key takeaway

Rising oil prices and inflation data boosted bond yields, pushing mortgage rates to 7.26% and stocks lower