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Oil spikes, yields rise as Fed minutes awaited

7/9/2026

50 4 Full Breakdown

Summary

Story summary

Investors awaited the Federal Reserve (Fed) June minutes after the June 17 decision to keep rates at 3.50%-3.75%.
U.S. equity futures mixed, with the Dow closing 0.25% lower at 52,925.15.
Brent hovered $76.22 while WTI rose nearly 3% to $72.49 after Iran’s attacks and the U.S. revoked Iran’s oil license.
30-year Treasury yields passed 5% while 10-year yields were 4.557% as markets priced roughly even odds of a September Fed hike.

History

Historical Context

After the Fed drove the federal-funds target from 5.25% in September 2007 down to 0–0.25% by December 2008 to halt the 2008 crisis, it kept that floor for seven years. Rising inflation forced a series of hikes in 2021-2022, lifting the range to 5.25% by 2023. Jerome Powell’s June 2024 minutes now show rates held at 3.50-3.75%.

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Story summary

Investors awaited the Federal Reserve (Fed) June minutes after the June 17 decision to keep rates at 3.50%-3.75%.
U.S. equity futures mixed, with the Dow closing 0.25% lower at 52,925.15.
Brent hovered $76.22 while WTI rose nearly 3% to $72.49 after Iran’s attacks and the U.S. revoked Iran’s oil license.
30-year Treasury yields passed 5% while 10-year yields were 4.557% as markets priced roughly even odds of a September Fed hike.

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