US Bond Yields Rise Amid Oil Price Volatility
US government bond yields have seen an increase amid fluctuations in oil prices. The yield on the benchmark 10-year US Treasury note rose by more than 2 basis points to 4.994%. This comes as Brent futures and US WTI crude stabilized after a decline earlier in the morning.
The November-delivery Brent futures traded up about 1% to around $100 per barrel, while US WTI crude rose slightly to around $91 per barrel. Oil prices had declined overnight due to talks between US and Iranian delegations at the UN General Assembly.
Investors are also assessing statements from Federal Reserve officials regarding their stance on monetary policy. Boston Federal Reserve President Susan Collins previously stated that there was an 'elevated likelihood' that inflation in the United States would remain above the Fed's 2% target.