A screen shows U.S. President Donald Trump giving an interview to CNBC during the World Economic Forum (WEF) meeting in Davos, Switzerland, as a trader works on the floor of the New York Stock Exchange (NYSE), in New York, U.S., January 21, 2026.
Brendan McDermid | Reuters
U.S. Treasury yields rose on Wednesday, led by surging oil prices, after the president Donald Trump declared at the NATO summit in Türkiye that he thinks the ceasefire with Iran is over.
The yield on the Cash flow at 10 years The rating – the main benchmark for mortgages, auto loans and credit card debt – was last seen up more than 4 basis points, at 4.573%.
Short-term and long-term yields have also increased. The yield on the Cash flow over 2 years The rating, which typically tracks the Federal Reserve’s short-term interest rate decisions, rose more than 5 basis points to 4.214%.
Meanwhile, the Cash flow over 30 years the yield, which traditionally moves according to geopolitical events, climbed more than 4 basis points to reach 5.084%.
One basis point is 0.01%, or 1/100th of 1%, and yields and prices move inversely to each other.
Trump’s comments pushed oil prices higher, sparking concerns about higher inflation and putting upward pressure on yields.
Oil prices remained higher after Trump on Wednesday threatened to strike Iran again after the United States. attacked the country on Tuesday.
“I’m going to give them a little warning. We’re going to hit them hard tonight,” he said at a news conference with Ukrainian President Volodymyr Zelensky.
Brent crude Futures, the international price benchmark, jumped 7.4% to $79.68 a barrel. WE West Texas Intermediate Futures were 7.2% higher at $75.48.
As traders weigh the extent to which Trump’s comments are likely to influence long-term borrowing costs, they are also digesting the minutes from the June meeting of the Federal Open Market Committee, which was Chairman Kevin Warsh’s first.
The minutes revealed a central bank divided on how to move forward on interest rates without more information on inflation.
“Many participants indicated that the appropriate level of the federal funds rate would be within or slightly below the current target range at the end of this year,” the minutes said. “Many other participants, however, believed that the appropriate level of the federal funds rate would be above the current target range.”
The bond market saw a slight reaction after the release.