Morning BriefNo. 11
10-year yield rises above 5.00%; bitcoin jumps 5.9%
In Friday's session, the Nasdaq Composite added 0.4%, the Dow fell 0.2%, gold settled at $4,424.90 an ounce, and WTI crude fell to $100.30 a barrel.
This archive edition was compiled from official historical data on September 23, 2026, when Diurna began publishing.
- S&P 5007,650.50▲ +0.17%
- Nasdaq26,522.55▲ +0.39%
- Dow51,682.64▼ −0.18%
- 10-yr yield5.01%▲ +7 bp
- EUR/USD$1.1460▼ −0.18%
- Gold$4,424.90▲ +0.57%
- WTI crude$100.30▼ −1.58%
- Bitcoin$80,844▲ +5.86%
Stocks
The benchmark S&P 500 ticked up 0.17% to 7,650.50. The Nasdaq Composite rose 0.39%, while the Dow Jones Industrial Average edged down 0.18% to 51,682.64. Smaller companies lagged: the Russell 2000 lost ground 0.50%.
The S&P 500 has gained 11.8% so far in 2026 and stands 1.9% below its record close of 7,798.99, set on August 13, 2026. The Cboe Volatility Index, which tracks expected swings in the S&P 500 over the next 30 days, slumped to 14.81, below its long-run average of about 19.4.
Rates
The 10-year Treasury yield rose 7 basis points to 5.01%. The 2-year yield, which tracks expectations for the Fed's policy path more closely, rose 9 basis points to 4.76%. At the long end, the 30-year yield rose to 5.34%.
That left the 10-year yield 25 basis points above the 2-year, a flatter curve than a day earlier. The effective federal funds rate — the Fed's main policy rate — stood at 3.88%. In the inflation-protected market, the 10-year real yield was 2.68% and the 10-year breakeven rate — a market-implied gauge of expected inflation — was 2.33%, as of Friday.
Source: U.S. Department of the Treasury, Federal Reserve Bank of St. Louis.
Currencies
The euro eased 0.18% to $1.1460 in the European Central Bank's daily reference rates, while the dollar soared 1.41% against the yen to ¥157.89 and the British pound eased to $1.3344. Overall, the dollar strengthened against five of the nine major currencies we track.
Commodities and bitcoin
WTI crude declined 1.6% to $100.30 a barrel, while Brent, the international benchmark, declined 0.9% to $103.87 a barrel.
U.S. natural gas futures crept higher 0.4% to $2.912 per million British thermal units. Gold ticked up 0.6% to $4,424.90 an ounce, and silver gained 1.7% to $66.56 an ounce.
Bitcoin soared 5.9% to $80,844.
On the calendar
No major U.S. economic releases are scheduled today.
Coming up
- Tue Sep 2910 a.m.Job openings (JOLTS)Bureau of Labor Statistics
- Wed Sep 308:30 a.m.GDP (third estimate)Bureau of Economic Analysis
- Wed Sep 308:30 a.m.Personal income and spending (PCE inflation)Bureau of Economic Analysis
Chart of the day
Source: U.S. Bureau of Economic Analysis.
Core PCE inflation was 3.3% in July, essentially unchanged from the prior month. That is up from 2.9% a year earlier. Over the past 10 years it has ranged from 1.0% (June 2020) to 5.6% (September 2022).
What it measures. The 12-month change in the personal consumption expenditures price index excluding food and energy, published by the Bureau of Economic Analysis.
Why it matters. The Federal Reserve's 2% inflation target is set in terms of the PCE price index, and officials often describe the core measure as the better guide to where inflation is heading.
The numbers
| Instrument | Last | Chg | % | ||
|---|---|---|---|---|---|
| Stocks | |||||
| S&P 500 | 7,650.50 | +12.74 | +0.17% | ||
| Nasdaq Composite | 26,522.55 | +104.25 | +0.39% | ||
| Dow Jones Industrial Average | 51,682.64 | −95.40 | −0.18% | ||
| Russell 2000 | 2,860.40 | −14.23 | −0.50% | ||
| Cboe Volatility Index | 14.81 | −0.63 | −4.08% | ||
| Treasury yields | |||||
| 3-month Treasury bill | 4.14% | +2 bp | — | ||
| 2-year Treasury | 4.76% | +9 bp | — | ||
| 5-year Treasury | 4.86% | +8 bp | — | ||
| 10-year Treasury | 5.01% | +7 bp | — | ||
| 30-year Treasury | 5.34% | +5 bp | — | ||
| Currencies | |||||
| Euro (EUR/USD) | $1.1460 | −0.0021 | −0.18% | ||
| Japanese yen (USD/JPY) | ¥157.89 | +2.20 | +1.41% | ||
| British pound (GBP/USD) | $1.3344 | −0.0032 | −0.24% | ||
| Chinese yuan (USD/CNY) | 6.6976 | −0.0099 | −0.15% | ||
| Canadian dollar (USD/CAD) | 1.4010 | +0.0015 | +0.11% | ||
| Swiss franc (USD/CHF) | 0.8257 | +0.0012 | +0.14% | ||
| Australian dollar (AUD/USD) | $0.7120 | +0.0006 | +0.09% | ||
| Mexican peso (USD/MXN) | 17.1776 | −0.0105 | −0.06% | ||
| Commodities | |||||
| WTI crude oil | $100.30 | −1.61 | −1.58% | ||
| Brent crude oil | $103.87 | −0.95 | −0.91% | ||
| Natural gas | $2.912 | +0.011 | +0.38% | ||
| Gold | $4,424.90 | +25.20 | +0.57% | ||
| Silver | $66.56 | +1.09 | +1.66% | ||
| Copper | $6.615 | +0.028 | +0.43% | ||
| Digital assets | |||||
| Bitcoin | $80,844 | +4,478 | +5.86% | ||
Closing levels for September 18, 2026. Yields in percent; changes in basis points (bp). Currencies are ECB reference rates. Commodities are front-month futures settlements.
Diurna briefs are compiled from official and exchange data by our publishing system using fixed editorial rules; they describe market moves and do not speculate about causes. This is not investment advice. How we produce the Daily Brief.