US Treasury yields climb on inflation and Middle East worries
Business
US Treasury yields climbed on Monday, with investors on edge about upcoming inflation reports and rising tensions in the Middle East.
The 10-year yield hit 4.694%, while the two-year moved up to 4.237%.
Everyone is watching the next CPI and PPI numbers, which are expected to show a small bump in inflation.
Federal Reserve September hike odds drop
Odds of a Federal Reserve rate hike in September have fallen from 67% to 48% as worries over Iran and the Hormuz Strait sent oil prices up by 3.4% to $80.84 per barrel.
Plus, big Treasury bond auctions this week added more pressure on yields, showing just how much markets are bracing for what is next.