Treasury yields surge to near 20-year high as oil jumps back above $102 per barrel - NBC News

The yields on U.S. Treasury bonds jumped Wednesday and oil prices rose, sending stocks tumbling as investors braced for the prospect of future Fed rate hikes. The yield on the 10-year Treasury bond, which heavily influences consumer borrowing rates, especially mortgages, rose as high as 5.13%, its highest since 2007. Indeed, the average 30-year fixed mortgage rate jumped to 7.26% on Wednesday, according to Mortgage News Daily. That’s the highest point since Jan. 13, 2025 — and of President Donald Trump’s second term. The 10-year yield’s rise was its sharpest one-day jump since April 9, 2025, a week after Trump’s tariffs began roiling global markets, according to Dow Jones data. Yields on five- and 30-year Treasury bonds also hit levels that had not been seen since before the 2008 global financial crisis. Stocks fell in response to the rise in yields and oil prices.