S&P 500 Near Record Highs as Bond Yields and Oil Signal Persistent Risk

The S&P 500 slipped 0.2% on August 17, 2026, holding near all-time highs. Meanwhile, Brent crude settled at $90.87 a barrel, up 2.7%, and the 10-year Treasury yield held at 4.72% — roughly 75 basis points above its 3.97% pre-Iran-war level. The bond market is pricing geopolitical risk that equities have largely shrugged off.