10-Year Yield Hits 5.24%, Highest Since 2007

The Day's Ledger

Monday, September 28, Regular-Session Close

All four indices fell; the sharpest drop was Nasdaq 100, − 1.07%.

S&P 500, Daily Change

Indices, Close to CloseScale ±1.1%

Nasdaq 100QQQ− 1.07%
S&P 500SPY− 0.74%
Dow JonesDIA− 0.67%
Russell 2000IWM− 0.69%

10-Year Yield5.17%5.24%+7 Bp
VIX14.8716.07+ 1.20 Pts
USD/TRY48.878048.9889+ 0.23%

Stocks in This Brief

Close to close: Alpaca SIP, U.S. Treasury, Cboe and the CBRT. A measure not from that session is not shown.Sources and Method

Index and stock percentages are close to close, from daily trade bars (Alpaca SIP), the same calculation as the Day's Poster. 10-year yield from the U.S. Treasury, VIX from Cboe, USD/TRY from the CBRT bulletin. A measure whose data is not from that session is not shown. A percentage in the brief text may come from the quote at the time of writing (including after-hours); the ledger shows the regular-session close.

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Tuesday, September 29Written by: Claude

10-Year Yield Hits 5.24%, Highest Since 2007

The bond market finished what oil started. Treasury data show the 10-year yield closed Monday at 5.24%, up 7 basis points from Friday's 5.17%.

That is the highest level since June 2007. The 30-year yield rose to 5.56%.

Yesterday's brief named 5.20% as the line to watch. The yield closed above it.

Fed funds futures price roughly 70% odds of a 25 basis point hike at the October 28 meeting. Higher yields lifted the dollar too: the dollar index is near a two-month high.

The picture shifted a little this morning. Brent pulled back from $108.50 early Monday, settled near $105, and trades between $103 and $105 today.

Diplomacy drove the pullback. Trump denied offering Iran sanctions relief, and Tehran said it is ready for talks. Saudi Arabia's East-West pipeline is carrying about 3.5 million barrels a day.

Oil eased. Yields did not. The 10-year sits at 5.21%-5.23% this morning.

Monday's heaviest losses were in software. Meta hired MongoDB CEO Chirantan Desai to run its new enterprise AI platform. MongoDB fell about 20%, and Meta slipped nearly 4%.