Why Treasury Yields Are Surging Today -- WSJ

By Jack Pitcher

U.S. government bond yields are higher across the curve today. Some of the factors behind the move:

-- Inflationary pressure. A monthly S&P survey of U.S. private-sector business activity showed strong growth, with jobs added at a pace not seen in four years. Yields jumped around 9:45 a.m. in New York when it was released.

-- Oil. Brent crude prices rose back above $100 a barrel in morning trading. The Iran war has raised prices, contributing significantly to a higher consumer price index in the U.S.

-- Fed comments. The U.S. central bank just delivered its first rate-hike since 2023, and now investors are trying to figure out how many more are on the way. Speaking in Chicago Wednesday morning, Fed governor Michael Barr said he expects the central bank will need to raise interest rates further to tamp down inflation.

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September 23, 2026 12:17 ET (16:17 GMT)