Global bonds sink and oil prices jump, triggering a stock sell-off

Iran warGlobal bonds sink and oil prices jump, triggering a stock sell-offThe U.S. government sold 30-year debt above 5% this week for the first time since 2007.Listen to this article with a free account00:0000:00The yield on a 30-year U.S. Treasury bond rose above 5.12%, its highest level in nearly a year.Al Drago / Bloomberg via Getty ImagesShareAdd NBC News to GoogleMay 15, 2026, 11:15 AM EDTBy Steve KopackGovernment bonds around the world sold off sharply Friday as the price of oil jumped, both driven by an array of geopolitical developments in the Iran war, politics and trade.Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content.The yield on a 30-year U.S. Treasury bond rose above 5.12%, its highest level in nearly a year. If it closes above that level, it would be its highest close since 2007. On Wednesday, the Treasury Dept. also sold 30-year bonds above 5% for the first time since 2007. The 10-year Treasury note’s yield also surged to nearly 4.56%, its highest level since mid-May of last year.U.S. crude oil jumped more than 4% Friday to more than $105, bringing its gain this week to more than 9%. International Brent oil rose nearly 3.5% to over $109 per barrel. Brent has gained 7% this week.Stocks dropped sharply in early trading, with S&P 500 sliding 1%, the Nasdaq Composite falling 1.3% and the Dow Jones Industrial Average tumbling 430 points.The latest market turmoil also puts further pressure on consumers. Oil’s rise threatens to drive retail gas prices higher, while spiking bond yields set the stage for higher consumer lending rates. As of Friday morning, the average price of unleaded gas was holding steadily above $4.50 per gallon, up 51% since the Iran war started.Few deliverables from BeijingThe moves in bonds, oil and stocks gained momentum as President Donald Trump and his top officials discussed their historic summit with Chinese officials in Beijing. So far, the trip does not appear to have resulted i...