Oil Tops $90, But Borrowing Costs Barely Move

Oil prices topped $90 on July 20, 2026, as U.S.-Iran fighting threatened Middle East supply. Yet the 10-year Treasury yield — a benchmark for mortgages and loans — slipped just 0.02% to 4.55%, barely above last July's 4.47%. Bond investors seem to balance growth fears against inflation worries, keeping borrowing costs steady despite the shock.