US Yields Ease as Oil Rises Amid US-Iran Conflict Uncertainty

US Treasury yields eased on Tuesday as investors remain cautious ahead of US inflation figures and the resolution of the US-Iran conflict.

The West Texas Intermediate (WTI) oil price continued its two-day advance, hitting a seven-day high of $84.61, but this had little impact on the 10-year benchmark note, which dipped one basis point to 4.69%.

The July Consumer Price Index (CPI) is expected to decline slightly from 3.5% to 3.4% year over year, with the core CPI also forecasted to decrease from 2.6% to 2.5% YoY.