Story perspectives

Treasury Yields Hit Two-Decade Highs as Fed Hike Looms

By Drooid · Sep 25, 2026, 12:06 AM UTC · How we work

Summary

Treasury Yields Surge

U.S. Treasury yields surged to two-decade highs, with the 30-year reaching 5.47%.
Oil prices jumped, Brent closing at $106.60 per barrel and WTI at $94.61.
Average U.S. diesel price hit $6.51 a gallon, up 73% since the Iran war began.
Fed officials John Williams and Anna Paulson said another rate hike may be appropriate by year-end.
Traders assign over 70% probability to a 25-basis-point Fed hike at the October meeting.

Summary

Bessent Announces Flight Shutdown

Treasury Secretary Scott Bessent said 80-90% of Iran’s external flights have been shut down by sanctions.
Iraq’s civil aviation authority ordered a midnight suspension of all Iranian flights into Baghdad airport.
Mahan Air continues serving China, India, Iraq, Pakistan, Thailand and the UAE despite sanctions.
Richard Maslen warned ground services such as refueling, parking and ticketing could become new sanctions chokepoints.

History

Historical Context

In October 1973 OAPEC, led by Saudi King Faisal, embargoed the United States and other Israel supporters. The cut in Middle-East exports raised world crude from $3 to nearly $12 a barrel—a 300% jump—and sparked inflation and stagflation. The shock still influences today's modern energy policy and global market volatility.

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Treasury Yields Surge

U.S. Treasury yields surged to two-decade highs, with the 30-year reaching 5.47%.
Oil prices jumped, Brent closing at $106.60 per barrel and WTI at $94.61.
Average U.S. diesel price hit $6.51 a gallon, up 73% since the Iran war began.
Fed officials John Williams and Anna Paulson said another rate hike may be appropriate by year-end.
Traders assign over 70% probability to a 25-basis-point Fed hike at the October meeting.

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