Treasuries Rise, Yields Fall as Crude Oil Plunges to Four-Month Low

Treasuries moved notably higher on June 16, 2026, pushing yields lower, as crude oil prices extended their nosedive. The benchmark 10-year Treasury note yield fell 4.2 basis points to 4.223%. July WTI crude futures dropped $2.64 to $77.67 a barrel, hitting a four-month low amidst global demand concerns. The crude oil decline, driven by worries over global demand and ample supply, fueled demand for safe-haven assets like Treasuries. Traders also reacted to a weaker-than-expected New York Empire State manufacturing index for June, which dropped to -6.0 from -0.8, suggesting a slowdown in regional manufacturing activity. Further yield movements saw the 30-year bond decrease 3.8 basis points to 4.382%, while the 2-year note yield edged down 1.6 basis points to 4.708%.