July 23, 2026
United States:
US Treasury Yields Rise to 2026 Highs as Oil Gains Spark Fed Bet
US Treasury yields rose to their highest levels of the year as the threat of escalation in the Iran war sent oil prices higher, boosting expectations that the Federal Reserve could raise interest rates as soon as next week.
The yield on two-year notes, which are particularly sensitive to expectations for Fed policy, climbed on Thursday by about four basis points to around 4.34%, reaching the highest since early 2025.
Europe:
ECB Keeps Rates Steady After Some Officials Considered Hike
The European Central Bank kept borrowing costs unchanged, but only after some policymakers discussed an immediate hike to ensure inflation stays in check.
The decision to keep the deposit rate at 2.25%, as anticipated by economists and investors, was unanimous, according to President Christine Lagarde.
Asia:
Half of Economists Still See BOJ Waiting Until December to Hike
Half of surveyed economists still expect the Bank of Japan to wait until December to bump its benchmark interest rate higher, with Prime Minister Sanae Takaichi’s government seen as a key obstacle to further action, according to a Bloomberg survey.
Some 50% of 52 economists selected December as the most likely timing for the next move after the BOJ raised the rate last month, according to the poll.
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