U.S. MORTGAGE RATES SURGE AS 30-YEAR FIXED HITS 7.50% The MBA reports the 30-year fixed mortgage rate at 7.50%, up 53 basis points over four weeks and 108 basis points over the past year. 15-year fixed rates climbed to 6.87%, while jumbo mortgage rates reached 7.49%. Elevated borrowing costs continue to pressure housing affordability and mortgage demand.

FED'S SCHMID: U.S. DEBT SEEMS "EXTREME"

YIELD ON 10-YEAR TREASURY NOTE LAST UP 4.45 BASIS POINTS AT 5.207%

YIELD ON 30-YEAR U.S. TREASURY BONDS HITS FRESH 22-YEAR HIGH AT 5.5185%; LAST UP 4.86 BASIS POINTS AT 5.511%

*FIVE-YEAR TREASURY YIELD RISES TO 5% FOR FIRST TIME SINCE 2007

GOLDMAN: DIESEL EXPORT BAN COULD PUSH GASOLINE PRICES HIGHER Goldman Sachs warns a U.S. diesel export ban could lower domestic diesel prices but raise gasoline prices. Cheaper diesel could encourage refiners to cut production, reducing gasoline supply because the fuels are produced together. Energy Secretary Chris Wright also acknowledged that an export ban could increase gasoline prices, even as the administration looks for ways to boost diesel supply.

U.S. DIESEL HITS FRESH RECORD AT $6.53 U.S. diesel prices climbed to a record $6.527 per gallon, up sharply from $3.688 a year ago. Supply is tightening as Russian diesel exports remain restricted and disruptions continue to crude flows through the Strait of Hormuz. Commerzbank warns diesel markets could face a difficult winter if Middle East disruptions persist and Russia extends its export restrictions.

TRUMP MEDIA TARGETS WALL STREET Trump Media is reportedly seeking up to $100,000 a month to give banks and trading firms the fastest access to President Trump’s Truth Social posts. The new “Truth API” would offer low-latency feeds of key accounts, aiming to create a new revenue stream as Trump’s market-moving posts become increasingly valuable to investors.