The yield on ten-year US Treasury bonds rose about eight basis points to near 5.35% on Wednesday, October 7, the highest level since 2002, according to CNBC. The $39 billion auction of ten-year bonds closed at 5.300%, the highest yield for this maturity since November 2000, but with solid demand. The minutes of the Fed’s September 15–16 meeting show that the quarter-point rise, to 3.75%–4.00%, was unanimous and that most participants foresee one more rise before the end of the year; futures put the probability of another rise on October 28 at about 20%. In London, the 30-year yield reached 6.036%, the highest since January 1998, and the FTSE 100 closed at 10,458.50 (−0.79%) (Bloomberg). The Dax fell 1.35% to 25,104.36 points and the Euro Stoxx 50 fell 1.47% (Handelsblatt). Banks lost between 2% and 5%.
The ten-year US yield serves as a benchmark for loans, corporate bonds and the public debt of many countries. When it rises, money leaves stocks and riskier debt, and governments pay more interest.
Long-term rates affect mortgages, generally indexed to the Euribor, and the Portuguese state’s borrowing costs. The effects arrive with a delay.
A correction is healthy after a long rise in stocks; the auction had firm demand, which contradicts the idea of a “buyers’ strike.”
Long-term yields this high, with oil near 00, show that investors are demanding more of a premium for budget and inflation risk.
A 5.3% yield is the price the market asks to finance debt for ten years. What will decide whether this is a scare or a shift is oil and the Fed’s next meeting on October 28. On Portugal’s side, it is worth watching whether the yields on national debt follow and whether the listed banks keep losing.
CNBC, Handelsblatt, Bloomberg (Oct. 7, 2026)
Markets · BondsPress ✓ 3 outlets · levels according to CNBC, Handelsblatt and Bloomberg
Long-term bond yields surge in the US and UK, and European stocks fall by more than 1%
The yield on ten-year US Treasury bonds reached 5.35%, the highest since 2002, and that on 30-year British bonds 6.036%, the highest since 1998. The Fed minutes show that most participants expect one more rate rise this year.
The yield on ten-year US Treasury bonds rose about eight basis points to near 5.35% on Wednesday, the highest level since 2002, according to CNBC. The $39 billion auction of ten-year bonds closed at a yield of 5.300%, the highest for this maturity since November 2000, but with solid demand. In London, the 30-year yield rose as high as 6.036%, the highest since January 1998, and the FTSE 100 closed 0.79% lower, at 10,458.50 points (Bloomberg). In Frankfurt, the Dax lost 1.35%, to 25,104.36 points, and the Euro Stoxx 50 fell 1.47%, to 6,180.29 (Handelsblatt).
The minutes of the Fed’s September meeting show that the quarter-point rise, to 3.75%–4.00%, was unanimous and that most participants foresee one more rise before the end of the year; futures put the probability of another rise at the October 28 meeting at about 20%. Pressure also comes from oil, back near $100 a barrel. On Wall Street, the S&P 500 slipped 0.22% to 7,801.77 points. DailyDrop did not see the PSI close or Portuguese bond yields.
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By the numbers
5.35%ten-year US yield, highest since 2002
6.036%30-year UK yield, highest since 1998
−1.35%fall in the Dax, to 25,104.36 points
National team coach Jorge Jesus confirmed on Wednesday, October 7, that he had read Cristiano Ronaldo’s statement, but did not respond to the accusations. He said that, as he does every day, he was going to the federation to work, to think about the team and the national side, and that he had nothing more to say (RTP, Portal Tela, Gazeta Esportiva). La Tribuna speaks of tension that persists despite the player’s apology. The Portuguese Football Federation has announced no sanction. The regulations provide for between one and six months’ suspension and a fine for abandonment. dgabc writes that a Portuguese television station is said to have stated that Ronaldo will not return while Jesus is the coach; DailyDrop has not seen confirmation.
How the FPF resolves the case affects the call-ups and the cohesion of the national team, at a time when the team is winning but has its captain out.
Fans will see in November whether Ronaldo is called up and whether the sanction is applied.
Those who back Jesus say the coach should not respond in public and that authority must be respected.
Those who back Ronaldo say the captain took responsibility and that the federation should mediate a reconciliation.
Jesus’s silence is a choice; Ronaldo’s is over. What is missing is the FPF’s decision, and that is where the case is resolved or gets worse.
RTP, Portal Tela, Gazeta Esportiva, La Tribuna, dgabc (Oct. 7, 2026)
Sport · National teamPress ✓ 4 outlets · Jesus’s reaction according to the press
Jesus read Ronaldo’s statement but refuses to respond; tension with the captain continues
Jorge Jesus, the national team coach, confirmed on Wednesday that he had read Cristiano Ronaldo’s long text, but avoided responding to the accusations. He said only that, as every day, he was going to the federation to work and to think about the team and the national side, and that he had nothing more to say (RTP, Portal Tela, Gazeta Esportiva). The international press speaks of lingering tension, despite the player’s apology (La Tribuna).
The Portuguese Football Federation has so far announced no sanction. The disciplinary regulations provide for between one and six months’ suspension for anyone who abandons the national team. A Portuguese television station is said to have stated that Ronaldo will not return while Jesus is the coach, according to dgabc; DailyDrop has not seen confirmation of this version, and the player himself wrote that he is available after serving the punishment.
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Word of the day
National team coachSportCoach of the national team, chosen by the federation, who decides the call-ups and the starting line-ups.