US Treasury Yields Hit Multi-Year Highs as Oil Tops $107 and PPI Rises Most in Three Months

U.S. Treasury yields climbed to multi-year highs, drawing buyers to a $22 billion 30-year bond auction. According to Sina Finance, yields across maturities rose 7 to 15 basis points, with the 30-year yield reaching its highest level since 2007 and the 2-year yield hitting 4.58% for the first time since 2024. Brent crude rose above $107 a barrel as Middle East tensions deepened supply concerns. According to Sina Finance, the global benchmark gained more than 6% at the close on Thursday and briefly topped $108 intraday, while WTI futures settled above $102 a barrel for the first time since May. Apple used its Wednesday keynote to unveil the iPhone Duo foldable phone and highlight its AI strategy. According to Sina Finance, CEO John Ternus said the iPhone sits at the center of a broader ecosystem of intelligent features and experiences. Nvidia CEO Jensen Huang said cybersecurity will be AI's next major market. According to Sina Finance, he made the remarks at a Goldman Sachs technology conference in San Francisco and dismissed concerns that some transactions may be circular. U.S. producer prices rose 0.4% in August, the biggest monthly increase since May. According to Sina Finance, the Labor Department said the index rose 5.4% from a year earlier, while core PPI increased 0.2% month over month and 4.6% year over year. The Pentagon's chief technology officer dismissed warnings about AI risks. According to Sina Finance, Emil Michael referred to a social media post by former Anthropic engineer Jacob Coxon and said fears about AI destroying humanity amount to fear of data centers and change.