Benchmark Treasury Yield Retreats From Intraday High After Job Openings Surprisingly Slump, Crude Oil Drops

11:13 AM EDT, 09/29/2026 (MT Newswires) -- The US benchmark Treasury yield gave up gains after August job openings fell to the lowest in five months and consumer confidence unexpectedly sank on a day that also saw crude oil prices slump. The 10-year opened at 5.23% on Tuesday, rose to an intraday high of 5.268% and then traded at 5.247% following the release of the Job Openings and Labor Turnover Survey from the US Bureau of Labor Statistics. The yield, now up less than one basis point, remains at elevated levels, the highest in 19 years. The two-year yield leaned slightly higher to 4.926%, after touching a new 52-week high of 4.96% earlier in the session. The 30-year traded up fewer than one basis point to 5.259% after hitting an intraday high of 5.591%, which is its strongest level since 2004. The yield on maturities below two years declined. Job openings fell to 7.079 million last month, the lowest since March and down from 7.335 million openings reported in July, according to the Bureau of Labor Statistics. The August print lagged the 7.228 million openings expected in a Bloomberg-compiled survey. The Conference Board's measure of consumer confidence fell to 81.9 in September from 88.6 in August, versus an expected increase to 89.0 in a Bloomberg-compiled poll. Globally, most government bond yields rose in Japan and France, while rates were lower across the curve in the United Kingdom and Germany. President Donald Trump denied an Axios report that he had offered Iran sanctions relief, while Tehran rejected a Bloomberg report that it is "showing flexibility" on its nuclear position. Iranian President Masoud Pezeshkian, in an interview with the CBS show "Face the Nation", said Tehran was ready for talks on its nuclear programme and other issues, but would not accept "bullying or coercion," Reuters reported Tuesday. The front-month US West Texas Intermediate crude oil contract dropped 1.4% to $91.33 per barrel, and the global benchmark North Sea Brent retreated 1% to $104.21 per barrel.