Commodities
Yield Rises with Oil Prices Amid Middle East Tensions
Treasury yields rose on Tuesday as oil prices surged and investors await key inflation data this week.
The yield on the 10-year Treasury note, a benchmark for mortgages, auto loans, and credit card debt, increased by 3 basis points to 4.7334% in early trade.
The rise in borrowing costs comes as tensions in the Middle East continue to weigh on energy prices and investors look ahead to inflation data due out Wednesday.
Oil prices jumped after President Donald Trump suggested that Iran itself must pay the U.S. compensation for the war, with U.S. West Texas Intermediate futures rising 1.78% to $83.58 per barrel and Brent crude futures increasing 1.81% to $89.25 per barrel.