Yields fall after US 10-year hits highest since 2002; stocks, euro also decline
TLT•The 10-year Treasury yield reached 5.34%, its highest since April 2002, before falling to 5.272%, while US stocks and the euro also declined. The euro fell 0.79% to $1.1238, and US crude rose 1.52% to $91.79 a barrel.
1. Treasury yields retreat
The benchmark 10-year Treasury yield earlier rose to 5.34%, its highest since April 2002, before falling 2.07 basis points to 5.272%. The 2-year yield fell 7.28 basis points to 4.814%. US manufacturing activity was little changed in September, while input prices surged; investors awaited the monthly jobs report due Friday.
2. Stocks and currencies fall
The Dow fell 0.22%, the S&P 500 slipped 0.12% and the Nasdaq declined 0.16%. The euro fell below $1.13 for the first time since May 2025 and was last down 0.79% at $1.1238. Micron shares fell about 2% despite a better-than-expected revenue forecast and reporting $32 billion in customer commitments under its supply agreements.
3. Oil prices rise
US crude rose 1.52% to $91.79 a barrel and Brent gained 2.81% to $100.78. The article said stalled US-Iran peace talks to end the seven-month-long war in the Middle East had kept crude prices elevated.
