{"id":6400,"date":"2026-09-01T14:15:21","date_gmt":"2026-09-01T14:15:21","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=6400"},"modified":"2026-09-01T14:15:21","modified_gmt":"2026-09-01T14:15:21","slug":"oil-is-back-above-92-and-inflation-fears-are-sending-u-s-bond-yields-to-their-highest-since-january-2025","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=6400","title":{"rendered":"Oil is back above $92 and inflation fears are sending U.S. bond yields to their highest since January 2025"},"content":{"rendered":"
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THIS IS A BREAKING NEWS UPDATE. AP\u2019s earlier story follows below.<\/p>\n

A heavy sell-off in U.S. government bonds is gaining momentum with anxiety about persistent inflation driving prices lower.<\/p>\n

Read more GE Vernova lands Rivian\u2019s CFO, leaving EV maker to find successor<\/a><\/p>\n

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The yield on the two-year Treasury, which closely tracks expectations about Fed moves, rose to 4.35%, on Tuesday. That\u2019s up significantly from about 3.50% at the beginning of 2026. Meanwhile, the yield on the 10-year Treasury rose to 4.79% from 4.73% late Friday. That\u2019s the highest it has been since January 2025.<\/p>\n

The bond sell-off is global, with other nations facing the same economic pressures.<\/p>\n

Japan\u2019s 10-year bond yield touched 3%, a level it hasn\u2019t hit since 1996. In Germany, the 10-year bond yield also rose to 3%, a 15-year high.<\/p>\n

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The U.S. debt\u00a0surpassed $40 trillion\u00a0two weeks ago, a shocking milestone as defense costs and interest on the burgeoning deficit make up an enormous share of federal spending. But investors are asking governments across the globe to pay more, with the perceived risk rising.<\/p>\n

Futures for the S&P 500 index fell 0.6%, while the Dow Jones Industrial Average declined 0.8%. Nasdaq futures tumbled 1%.<\/p>\n

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The U.S. attacked rocket launchers on an Iranian island on Sunday, saying they were preparing to launch mines into the\u00a0Strait of Hormuz. Meanwhile, the United Arab Emirates said it intercepted an Iranian drone over its waters on Monday.<\/p>\n

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September is off to a tepid start, a day after Wall Street closed out August on a downbeat note. The S&P 500, Dow Jones Industrial Average and the Nasdaq composite all declined on Monday. And the losses were broad, with nearly every sector within the benchmark S&P 500 finishing in the red.<\/p>\n

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Tech stocks are also back in focus, with shares of Nvidia, Microsoft, Alphabet and Micron Technology all declining before the market open.<\/p>\n

Oil prices remain high as the Iran war has curtailed traffic in the Strait of Hormuz, which once accounted for about 20% of the world\u2019s oil shipments.<\/p>\n

Read more Trump\u2019s \u2018biggest oil deal in world history\u2019 in Venezuela reeks of \u2018colonial cronyism\u2019 and could easily fall apart, experts say<\/a><\/p>\n

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Brent crude gained 1.7% to $92 per barrel on Tuesday, following a 2.7% rise on Monday. U.S. benchmark crude climbed 2.2% to $87.67 per barrel.<\/p>\n

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The national average for gasoline in August has been above $4 per gallon every day of the month for the first time ever, according to the AAA. It has been the most expensive August at the pump on record, outpacing even the enormous supply chain crunch during the COVID-19 pandemic in 2022.<\/p>\n

Higher energy prices have fueled already elevated inflation, which remains well above the Federal Reserve\u2019s 2% target. Many experts are expecting a rate hike soon after Fed Chair Kevin Warsh \u2014 in a speech last week at a conference of central bankers \u2014 left the door open to it if inflation didn\u2019t improve.<\/p>\n

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The government\u2019s next report on prices comes out just days before the Fed meeting and could play an outsize role in determining whether the central bank acts.<\/p>\n

Also this week, the government issues its latest monthly jobs report, which could also play into the Fed\u2019s decision on interest rates.<\/p>\n

Thought the unemployment rate remains low at 4.1%, the job market stalled unexpectedly last month as inflation continues to squeeze businesses and households.<\/p>\n

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A weakening employment market could create a tough situation for Federal Reserve, which has to balance fighting inflation with supporting full employment. Its main tool for managing that \u201cdual mandate\u201d remains interest rates. Raising its benchmark rate to bring down inflation could further damage the jobs market; cutting its benchmark interest rate to help support employment can exacerbate inflation.<\/p>\n

In Europe, Germany\u2019s DAX lost 1%, while the CAC 40 in Paris gave up 0.4% and Britain\u2019s FTSE 100 declined 1%.<\/p>\n

Asian markets were mostly lower, with shares in online fast-fashion\u00a0retailer Shein\u00a0sliding as much as 10% after they began trading in Hong Kong on Tuesday. They closed 4% lower.<\/p>\n

Read more Do CEOs actually matter? Pulitzer winner Jared Diamond ran \u2018natural experiments\u2019 to find out<\/a><\/p>\n

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\u2014-<\/p>\n

AP Business Writers Michelle Chapman and Matt Ott contributed to this report.<\/p>\n

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