US 10-year and 30-year Treasury yields hit two-month highs as oil price surge raises inflation risks

Odaily News: The U.S. Treasury market declined, with 10-year and 30-year yields rising to their highest levels in about two months. The surge in crude oil prices has sparked concerns that inflationary pressures could prompt the Federal Reserve to raise interest rates. On Tuesday, Treasury yields across maturities generally rose by 2 to 4 basis points, with the 10-year yield briefly climbing to 4.64%, the highest level since late May. The U.S. dollar strengthened against most major currencies as the U.S. and Iran continued trading strikes for the 10th consecutive day.