US 10-year yield hits 5.133%, highest since 2007, as Fed signals more rate hikes
On September 23, 2026, US stocks fell sharply as the 10-year Treasury yield surged to 5.133%, its highest since 2007, following stronger-than-expected PMI data. Fed Governor Michael Barr signaled further rate hikes may be needed, pushing market odds of an October rate hike to about 75%. Brent crude rose nearly 4% to $103.08/barrel amid Iran-US talks over the Strait of Hormuz. European stocks also declined. The OECD raised its 2026 global growth forecast to 2.9%.
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Sina Finance Overnight Digest: US Stocks Fall, Oil Surges, Fed Rate Hike Bets Rise
This digest from Sina Finance covers major overnight developments as of September 24, 2026. US stock markets declined, with the Nasdaq falling over 1% as the 10-year Treasury yield hit a 19-year high following strong PMI data and hawkish Fed commentary. Fed Governor Michael Barr stated further rate hikes are needed to curb inflation, and market pricing for an October rate hike rose above 66%. International oil prices surged, with Brent crude rising nearly 4% to $103.08 per barrel, driven by a US-Iran meeting at the UN General Assembly and renewed tensions in the Strait of Hormuz. Iran outlined preconditions for reopening the strait, including an end to maritime blockades and asset freezes. In corporate news, TSMC is reportedly planning a 3-6% wafer price increase for 2027, McDonald's announced an $8.5 billion franchisee support plan, and Samsung completed LPDDR6 memory validation on Qualcomm's next-gen platform. European stocks fell as oil gains outweighed strong PMI data. The digest also covers UK space defense, Italian nuclear legislation, and US diesel export policy discussions.
Read sourceUS Treasury sell-off intensifies, Fed officials signal hawkish stance; global markets mixed
On September 23, US stocks fell, with the Dow down 0.68%, S&P 500 down 0.75%, and Nasdaq down 1.13%. US Treasury yields surged, with the 10-year note reaching 5.133%, the highest since 2007. European stocks also declined. Oil prices rose, with Brent crude at $103.08/barrel, while gold and silver fell. The US September PMI data showed strong expansion, with manufacturing at 57 and services at 58.7, leading markets to price in a 75% probability of a Fed rate hike in October. Fed Governor Barr indicated further rate increases may be needed. Iran's president stated the country will not surrender, and Iran held talks with the US via Qatar regarding the Strait of Hormuz. The OECD raised its 2026 global growth forecast to 2.9%. In corporate news, Elon Musk predicted China could close the AI compute gap in 2-3 years and forecast 10 billion humanoid robots within a decade. Meta's Connect 2026 conference is expected to unveil a camera-less smart glasses prototype and a mixed reality headset. TSMC is reportedly raising wafer prices by 3-6% from 2027. Qualcomm launched its 6th-gen Snapdragon 8 chips using TSMC's 2nm process. IonQ announced a real-time quantum error correction decoder running on a standard CPU.
Read sourceUS Bonds Sold Off, Fed Officials Signal Hawkish Stance; Global Markets Mixed
On September 23, US stocks fell, with the Dow down 0.68%, S&P 500 down 0.75%, and Nasdaq down 1.13%. US Treasury yields surged, with the 10-year note hitting 5.133%, the highest since 2007. European stocks also declined. Oil prices rose, with Brent crude at $103.08/barrel, while gold and silver fell. The US September PMI data showed strong expansion, raising market expectations for a Fed rate hike in October to about 75%. Multiple Fed officials, including Governor Michael Barr, signaled further rate increases may be needed. Iran's president stated the country will not surrender, and Iran held talks with the US via Qatar on reopening the Hormuz Strait. The OECD raised its 2026 global growth forecast to 2.9%. In corporate news, Tesla CEO Elon Musk predicted China could close its AI compute gap in 2-3 years and forecast 10 billion humanoid robots within 20 years. Meta's Connect 2026 conference began, with expected announcements of a camera-less smart glasses and a mixed reality headset. TSMC may raise wafer prices by 3%-6% from 2027. Qualcomm launched its 6th-gen Snapdragon 8 chips using 2nm process. IonQ tested a real-time quantum error correction decoder.
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US Bonds Sold Off Again as Fed Officials Signal Hawkish Stance; Global Markets Mixed
On September 23, US stocks fell, with the Dow down 0.68%, the S&P 500 down 0.75%, and the Nasdaq down 1.13%. US Treasury bonds were sold off again, with the 10-year yield briefly reaching 5.133%, the highest since 2007. European indices also closed lower. Oil prices rose, with Brent crude at $103.08/barrel, while gold and silver fell. The US September PMI data came in stronger than expected, with the composite PMI at 58.4, a 52-month high. Following the data, market probability of a Fed rate hike in October rose to about 75%. Multiple Fed officials, including Governor Barr, signaled a hawkish stance, suggesting further rate increases may be needed. In geopolitics, Iranian President Pezeshkian stated at the UN that Iran will not bow down, and Iran held talks with the US via Qatar regarding the reopening of the Strait of Hormuz. In corporate news, Tesla CEO Musk predicted China could close its AI compute gap in 2-3 years and forecast 10 billion humanoid robots within a decade. Meta's Connect 2026 conference is expected to unveil a camera-less smart glasses prototype and a mixed reality headset. TSMC is reportedly planning wafer price increases of 3%-6% from 2027. Qualcomm launched its 6th-gen Snapdragon 8 chips using TSMC's 2nm process. IonQ announced a real-time quantum error correction decoder tested on a standard CPU.
Global Markets Fall, US Yields Surge; Fed Hawkish, Iran Talks, Meta Connect, TSMC, IonQ
On September 24, Japanese stocks opened higher with the Nikkei 225 up 1.1%, while South Korean markets were closed. On September 23, US stocks fell, with the Dow down 0.68%, S&P 500 down 0.75%, and Nasdaq down 1.13%. US Treasuries were sold off, pushing the 10-year yield to 5.133%, the highest since 2007. European indices also declined. Oil prices rose 3.86% to $103.08/barrel, while gold fell 1.64% and silver dropped 3.91%. In international macro news, Iranian President Pezeshkian at the UN General Assembly said Iran will 'never bow or surrender' and called for peace. Iran's foreign ministry said talks with the US via Qatar occurred in New York regarding conditions for reopening the Strait of Hormuz. After US PMI data, market probability of a Fed rate hike of at least 25 basis points in October rose to about 75%, up from 53%. Fed Governor Barr signaled further rate hikes may be needed. The OECD raised its 2026 global growth forecast to 2.9%. In corporate news, Meta Connect 2026 began, showcasing hardware and AI. TSMC is reportedly planning wafer price increases of 3%-6% from 2027. IonQ announced a real-time quantum error correction decoder running on a standard CPU, supporting 408 logical qubits and over 31.5 million quantum operations.
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