Yields Steady; S&P Heads for Weekly Loss -- WSJ

Bond yields are holding near their highest levels in over a decade despite the efforts of Treasury Secretary Scott Bessent to contain borrowing costs. Stock futures are ticking up, but the S&P 500 is still heading for its first weekly loss since late July.

One asset benefiting from higher yields is bitcoin, which was recently up 7% and briefly neared $80,000 early this morning. It hasn't closed at that level since mid-May. The digital currency has also been buoyed by President Trump urging Congress to pass crypto-friendly legislation.

30-year Treasury yields have risen above 5.25%, with the 10-year yields around 4.7%. Bessent said Thursday that the Treasury had a "big toolkit" for the Treasurys market, adding that the administration would announce an "increased focus on fiscal consolidation" in the coming days.

Oil Brent crude futures were recently fractionally lower at just above $93.50 a barrel, after climbing for five straight days.

Overnight, Bessent also echoed President Trump's earlier comment about unleashing an economic D-Day on Iran, saying that "any remaining tie to Tehran will hasten a nation's economic oblivion, whether that tie be purposefully constructed or willfully ignored."

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(END) Dow Jones Newswires

August 21, 2026 06:57 ET (10:57 GMT)