A screen displays U.S. President Donald Trump giving an interview with with CNBC at the World Economic Forum (WEF) meeting in Davos, Switzerland, as a trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., Jan. 21, 2026.
Brendan McDermid | Reuters
U.S. Treasury yields rose on Wednesday, led higher by soaring oil prices, after President Donald Trump said at the NATO summit in Turkey that he thinks the ceasefire with Iran is over.
The yield on the 10-year Treasury note — the main benchmark for mortgages, auto loans and credit card debt — was last seen 6 basis points higher at 4.589%.
Shorter- and longer-term yields also moved higher. The yield on the 2-year Treasury note, which typically tracks short-term Federal Reserve interest rate decisions, was up by more than 5 basis points at 4.218%.
Meanwhile, the 30-year Treasury yield, which traditionally moves on geopolitical events, climbed more than 4 basis points to 5.084%.
One basis point equals 0.01%, or 1/100th of 1%, and yields and prices move inversely to one another.
Trump’s comments pushed oil prices higher, leading to worries of rising inflation and putting upward pressure on yields.
Oil prices remained higher after Trump later Wednesday threatened to strike Iran again after the U.S. attacked the country on Tuesday.
«I’ll give them a little warning. We’re going to hit them hard tonight,» he said during a press conference with Ukrainian President Volodymyr Zelenskyy.
Brent crude futures, the international price benchmark, jumped 7.4% to $79.68 per barrel. U.S. West Texas Intermediate futures were 7.2% higher at $75.48.
As traders gauge how Trump’s comments are likely to shape borrowing costs longer term, they are also awaiting the Federal Open Market Committee’s June meeting minutes, published later Wednesday, for more monetary policy insights under new Fed Chairman Kevin Warsh.
