Yield Hike Bets Push Treasury Prices to 2008 Levels Amid Iran Tensions

Treasury yields have been rising to levels not seen since 2008, prompting traders to bet on an interest-rate hike from the Federal Reserve. The Fed's next move is now a topic of speculation among investors, who are weighing the potential impact on borrowing costs.

President Donald Trump has taken notice and is again putting pressure on his handpicked Chairman Kevin Warsh to bring down rates. However, neither the Iran conflict nor Warsh's hawkish stance at Jackson Hole explains the full story behind the climb in bond yields.