Canada Yields Rise as Oil Prices Soar Past $99 a Barrel

Canada's government bond yields rose on Tuesday as oil prices surged past $99 a barrel, fueling concerns about inflation and putting pressure on global bond markets.

The benchmark 10-year yield climbed to 3.806%, up 2.7 basis points or 0.71% from its previous level, according to Bank of Canada data.

The move came as oil prices reached their highest since July 24, following attacks on Saudi energy facilities by Iran-backed Houthi militants.

Higher energy prices have complicated the inflation outlook and reduced expectations that central banks can ease monetary policy quickly.