The yield on the 10-year Treasury note was rising Thursday to around 4.09%, after on Wednesday posting its biggest jump since July, according to Dow Jones Market Data. That was despite the Fed having just lowered its policy rate by a quarter-percentage point.

Interest rates are responding well to the Fed's rate cuts. Here's what a $100,000 home equity loan costs monthly now.

Stocks and bonds initially rallied after the central bank cut interest rates on Sept. 17, but began giving up those gains before Federal Reserve Chair Jerome Powell started his post-meeting press conference.