The ten-year US Treasury yield closed at 5.17% on 25 September, up from 4.26% in April
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The story behind it
An oil spike that lasted a few hours pushed Treasury yields to a 19-year high Read the edition →On the calendar
The US releases that move markets, in New Zealand and Australian time. Economic calendar →
The story behind it
An oil spike that lasted a few hours pushed Treasury yields to a 19-year high Read the edition →On the calendar
The US releases that move markets, in New Zealand and Australian time. Economic calendar →What the chart shows
Borrowing costs for the US government have risen at every maturity since April. At each week's close, the two-year Treasury yield went from 3.71% to 4.81%. The ten-year went from 4.26% to 5.17% and the thirty-year from 4.88% to 5.49%.
Monday added to it. Donald Trump rejected Iran's terms for reopening the Strait of Hormuz, and Brent crude jumped in early trading before news of a restarted Saudi pipeline calmed it. Oil settled only a little higher, but yields did not come back down.
The bond market's reasoning is a chain: oil feeds the petrol price, and petrol feeds the inflation figures the Federal Reserve reads. On Monday, traders shifted towards an October rate rise as the likelier result. The oil price has recovered, so the question now is how long yields stay up.
The numbers
US Treasury yields at each week's last close, 17 April to 25 September 2026, in percent. Monday's rise after the oil spike is in the story.
| Ten-year Treasury yield | Thirty-year Treasury yield | Two-year Treasury yield | |
|---|---|---|---|
| 17 Apr 2026 | 4.26% | 4.88% | 3.71% |
| 24 Apr 2026 | 4.31% | 4.91% | 3.78% |
| 1 May 2026 | 4.39% | 4.97% | 3.88% |
| 8 May 2026 | 4.38% | 4.95% | 3.90% |
| 15 May 2026 | 4.59% | 5.12% | 4.09% |
| 22 May 2026 | 4.56% | 5.07% | 4.13% |
| 29 May 2026 | 4.45% | 4.99% | 3.98% |
| 5 Jun 2026 | 4.55% | 5.01% | 4.17% |
| 12 Jun 2026 | 4.48% | 4.97% | 4.09% |
| 18 Jun 2026 | 4.46% | 4.90% | 4.19% |
| 26 Jun 2026 | 4.38% | 4.87% | 4.07% |
| 2 Jul 2026 | 4.49% | 4.98% | 4.14% |
| 10 Jul 2026 | 4.56% | 5.06% | 4.21% |
| 17 Jul 2026 | 4.55% | 5.06% | 4.18% |
| 24 Jul 2026 | 4.69% | 5.16% | 4.33% |
| 31 Jul 2026 | 4.75% | 5.27% | 4.28% |
| 7 Aug 2026 | 4.65% | 5.19% | 4.19% |
| 14 Aug 2026 | 4.68% | 5.25% | 4.17% |
| 21 Aug 2026 | 4.74% | 5.27% | 4.24% |
| 28 Aug 2026 | 4.73% | 5.22% | 4.34% |
| 4 Sep 2026 | 4.78% | 5.24% | 4.37% |
| 11 Sep 2026 | 4.96% | 5.35% | 4.63% |
| 18 Sep 2026 | 5.01% | 5.34% | 4.76% |
| 25 Sep 2026 | 5.17% | 5.49% | 4.81% |
24 rows: scroll the table for the rest.
How we make these charts: one chart a day from a story in the edition, drawn from the figures the story names and checked against the sources named on the chart before it is published. General information only, not financial advice.
