Treasury yield hits 19-year high as oil surpasses $100 per barrel
The US 10-year note yield reached a peak above 4.95%, marking its highest level since October 2023 amid surging oil prices and global market volatility.
Trading activity in New York on Friday saw futures edged higher as investors assessed data before the August consumer price index release. The S&P 500 futures climbed 0.19% while Dow Jones Industrial Average futures advanced 151 points. In regular trading, the Dow fell over 300 points or 0.6%, and the S&P 500 lost 0.6%. South Korean equities led regional declines with the Kospi index dropping 2.8%. West Texas Intermediate crude futures jumped past $100 per barrel, reaching their highest settlement since May 19 driven by a continued seventh-month conflict between the US and Iran. Consequently, rates surged alongside oil prices, with the 10-year note yield topping 4.95%. This level represents the peak for this specific instrument since October 2023. In parallel, Chinese brokerage revenue increased more than 50 percent in the first half of the year. The broader industry saw a 23.5 per cent average rise in net profit as operating revenue climbed 31 percent, according to the Securities Association of China.
