10-year Treasury yield tops 5% for first time since 2007 as stocks slip and oil jumps 4%

The S&P 500 fell 0.45% to 7,585 and a $13bn 20-year bond auction cleared poorly, with a roughly 93%-priced Fed quarter-point hike due Wednesday afternoon.

Deepakshi

Kristal Research & Marketing team

16 Sept

Key takeaways — AI summary

The 10-year Treasury yield settled at 4.996% after touching 5.04% intraday, a level last seen in 2007, while the 30-year sat at 5.364%; a $13bn 20-year auction cleared at 5.420%, over 0.2 points above the prior sale, with foreign demand dropping sharply.
US stocks fell for a second day: the S&P 500 closed down 0.45% at 7,585 and the Nasdaq 100 lost 0.78% to 28,938; energy was the only sector higher (+2.26%) while consumer discretionary (-1.76%) and utilities (-1.20%) lagged.
West Texas crude settled $4.44 higher at $105.83 a barrel, its best close since May, driven by Libyan field outages, cancelled Saudi European cargoes and suspended loadings at Yanbu.
Futures put roughly 93% odds on a quarter-point Fed hike Wednesday; the document notes Wells Fargo cut its year-end S&P 500 target to 7,700 and that fund managers told Bank of America a disorderly rise in yields has replaced the AI bubble as their top risk.
Big movers included Skyworks +13% and Tempus AI +11%, while Dave & Buster's fell 18.5% on a surprise loss and Circle -11% and Coinbase -10% after a US Senate vote on the CLARITY Act failed 49-60.

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