Treasury yields near 20-year high as oil tops $103, mortgage rates hit Trump term peak, while a poll shows young voters favor socialism over capitalism.

Treasury yields surged to near a 20-year high as oil rose above $103 per barrel, Treasury data showed.

Treasury yields and oil rally

Oil prices climbed above $103 per barrel, driving the 10-year Treasury yield to its highest level in two decades. The surge in yields pushed mortgage rates to the highest point of Trump's second term, mortgage finance data indicated.

Mortgage rates hit Trump term high

Mortgage rates reached the peak of the current administration, reflecting the impact of the rising Treasury yield curve. Analysts said the trend could affect home affordability in the coming months.

Gas price trends shift again

National gas prices peaked in May, fell in June, and surged anew in September, according to energy market statistics. The volatility added pressure to household budgets already strained by higher borrowing costs.

China trade truce extended

The U.S. announced that the China trade truce has been extended by two months, Treasury Secretary Scott Bessent said. Bessent added that further announcements on agriculture could follow.

Capitalism vs socialism poll shift

A recent poll reported that more young voters view socialism positively than capitalism for the first time. The poll highlighted a generational shift in economic attitudes, with younger respondents expressing greater concern about capitalism.

Treasury Secretary Scott Bessent said further announcements could follow.