BondsMedium•1 October 2026•
1 min read
US Yields Hit 19-Year High, Erasing AI-Driven Gains in Stock Futures
Key Facts
1The 10-year Treasury yield rose five basis points to reach its highest level since 2002.
2S&P 500 futures erased an early 0.7% gain due to bond selloff pressures and rising oil prices.
3Micron Technology Inc. provided an upbeat forecast that supported AI-related trades before the market reversal.
The 10-year US Treasury yield rose five basis points to reach its highest level since 2002. This surge in yields, fueled by rising oil prices, caused S&P 500 futures to erase an earlier gain of 0.7%. Reports indicated that bond selloff pressures effectively neutralized the initial market optimism.
Micron Technology Inc. provided an upbeat forecast that supported AI-related trades prior to the broader market reversal. MU closed at $1065.11 on September 30, 2026, having reached a session high of $1083.5 and a low of $1062.36 on that date.
This market volatility follows recent labor data, as US Initial Jobless Claims were reported at 197,000 on September 24, 2026, coming in below the forecasted 201,000 claims.