Iran's top negotiator has mocked the US after the 10-year Treasury yield reportedly crossed 5.1%, warning that borrowing costs could return to levels last seen in the 1970s.
In a post on X, MB Ghalibaf wrote: “Happy 5.1% 10Y America 🎉. Mashallah. Celebrate: it's the floor two years out.”
Ghalibaf, also took aim at US policy toward Iran, saying Washington wanted to drag the country back to 1970s levels.
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“Nobody told you Iran isn't for arrogant amateurs? We'll return you to 1970s rates, plus high gas prices, diesel shortages and bell-bottoms. Enjoy the nostalgia!” he wrote.
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Happy 5.1% 10Y America 🎉. Mashallah. Celebrate: it's the floor two years out.
— محمدباقر قالیباف | MB Ghalibaf (@mb_ghalibaf) September 24, 2026
You wanted Iran dragged back to 1970s? Nobody told you Iran isn't for arrogant amateurs? We'll return you to 1970s rates, plus high gas prices, diesel shortages and bell-bottoms. Enjoy the nostalgia! pic.twitter.com/iB1x8e1PZY
Ghalibaf's remarks came as US Treasury yields climbed sharply amid renewed concerns over inflation, higher oil prices and heavy government borrowing.
Reuters reported that the benchmark 10-year Treasury yield reached 5.1497% on Thursday, its highest level since 2007. The 30-year yield also touched a more than 20-year high as investors reassessed the outlook for inflation and further US Federal Reserve rate hikes.
The latest rise followed a sharp selloff in US government bonds. Reuters reported that stronger-than-expected US business activity data, along with a jump in prices paid, added to concerns that inflation could remain elevated.
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Higher Treasury yields increase the cost of borrowing for the US government and can also put pressure on other borrowing costs across the economy.
The Treasury Department has sought to support the bond market through buybacks. On Thursday, it said it would buy back up to $6 billion in 20- to 30-year Treasuries, part of a programme aimed at supporting market liquidity.
The rise in yields has also coincided with elevated oil prices amid the ongoing US-Iran conflict. Reuters reported that oil prices rose about 2% on Thursday as diplomatic talks between Washington and Tehran showed little sign of progress.
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