Brent Crude Surges Past $100 Amid Hawkish Inflation Fears

U.S. Treasury yields have surged to multi-year highs as Brent crude oil prices breached the $100-a-barrel threshold for the first time since May.

The sharp increase in energy costs has intensified fears of persistent inflation, prompting a hawkish shift in monetary policy expectations.

The benchmark 10-year yield rose for a fifth consecutive session to trade at 4.814%, its highest level since 2023, as fixed-income desks continued to dump duration paper.

The surge in yields follows last week's robust August U.S. nonfarm payrolls report, which showed employers added an unexpected 162,000 jobs.