August 28, 2026

US Treasury yields closed higher yesterday ahead of Kevin Warsh's speech in Jackson Hole

International

The yield curve for US Treasury bonds showed gains across all maturities yesterday. The 1-year Treasury note moved from 4.00% to 4.01%, while the 3-year note advanced from 4.27% to 4.29%, and the 10-year note rose from 4.65% to 4.67%. It is worth noting that Federal Reserve Chairman Kevin Warsh will speak today at the Jackson Hole symposium, marking his first major address at the forum since taking office.

Meanwhile, the main US stock indices closed the day with widespread gains. The S&P 500 rose 0.7%, while the Nasdaq led the gains with a 1.6% increase, and the Dow Jones Industrial Average climbed 0.2%. Likewise, so far this year, all three indices have maintained positive returns, with accumulated gains of +12.9%, +14.2%, and +11.5%, respectively.

Regarding commodities, oil registered the largest gains of the session. WTI rose +1.8% to USD 83.7 per barrel, while Brent advanced +2.0% to USD 89.6 per barrel. Meanwhile, gold increased +0.3% to USD 4,604.9 per ounce, while soybeans fell -0.1% to USD 460.2 per ton.

Finally, on the macroeconomic front, Japan's unemployment rate for July was released yesterday, coming in at 2.4%, below both the 2.5% forecast by analysts and the 2.5% recorded the previous month. Thus, the indicator fell to its lowest level in recent months, in a labor market that continues to show tight conditions. It should be noted that the Bank of Japan's next monetary policy meeting will be held on September 17 and 18.

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