Treasury Yields Vary
Published June 12, 2026
U.S. Treasury yields held steady midweek as investors reacted to the latest release of monthly producer prices showing inflation staying elevated. Yields declined later in the week after jobless claims rose, but they continue to remain low relative to historical levels.
On Tuesday, the Bureau of Labor Statistics released May’s producer price index (PPI), which measures the average change over time in the prices of goods and services. The May PPI grew 1.1%, above economists’ estimates of 0.7%. Year-over-year, the increase in wholesale prices reached 6.5%, the highest in three years.
“Thursday’s elevated PPI print is yet another data point that could push the Federal Reserve to hike interest rates, as it is clear that all of the main measures of inflation are flashing red,” said chief investment officer of Bellwether Wealth, Clark Bellin. “We acknowledge that this inflationary spike is likely temporary and will subside once the Iran war ends, but there is increasing concern that the Iran conflict will persist for some time, which means higher oil prices and higher inflation.”
The benchmark 10-year Treasury note yield opened the week of June 8 at 4.52% and traded as low as 4.45% on Thursday. The 30-year Treasury bond opened the week at 5.00% and traded as low 4.94% on Thursday.
On Thursday, the U.S. Department of Labor reported that initial claims for unemployment reached 229,000 for the week ending June 6. This was up 4,000 from the prior week and above analysts’ expectations of 216,000. Continuing unemployment claims increased by 24,000 to 1.80 million.
"As we have been writing for the better part of two months, it is clear that labor market conditions have improved substantially since the middle of 2025," said chief U.S. economist at Jefferies, Thomas Simons. "Although we are optimistic about the labor market, things could turn quickly given the pessimism over energy prices and the war in Iran."
The 10-year Treasury note yield finished the week of 6/8 at 4.49%, while the 30-year Treasury note yield finished the week at 4.97%.
