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Treasury Yields Rise

Published June 19, 2026

Treasury yields rose early in the week as investors reacted to the Federal Reserve’s latest decision on interest rates. Yields moved higher later in the week as the latest unemployment data showed that layoffs remain low as the labor market regains momentum.

On Wednesday, the Federal Open Market Committee (FOMC) announced its decision to keep interest rates steady. All 12 members of the FOMC voted in favor of holding interest rates unchanged from 3.50% to 3.75%. Inflation remains at a three-year high as the Fed continues to work towards bringing inflation down toward its desired level of 2%.

"Today's meeting confirms that the Fed's recent hawkish shift was not just about higher energy prices," said global head of Fixed Income and Liquidity Solutions in Goldman Sachs Asset Management, Kay Haigh. "Despite the recent pullback in oil, half of the members of the FOMC expect rate hikes as soon as this year, reflecting strong labor market and inflation data.”

The benchmark 10-year Treasury note yield opened the week of June 15 at 4.49% and traded as high as 4.51% on Wednesday. The 30-year Treasury bond opened the week at 4.97% and traded as low 4.86% on Thursday.

On Thursday, the U.S. Department of Labor reported that initial claims for unemployment reached 226,000 for the week ending June 13. This was down 4,000 from the prior week and above analysts’ expectations of 225,000. Continuing unemployment claims increased by 24,000 to 1.81 million.

"We do not expect claims to trend consistently higher from here," said lead U.S. economist at Oxford Economics, Nancy Vanden Houten. "And despite the bounce off the recent lows, the level of initial claims is still consistent with a broad range of labor market indicators that show the job market has improved but is not overheating. That will allow the Fed to keep policy on hold while it waits for inflation ‌to come down."

The 10-year Treasury note yield finished the holiday week of 6/15 at 4.46%, while the 30-year Treasury note yield finished the week at 4.90%.