U.S. Treasury yields rose across the curve on Monday as renewed U.S.-Iran
uncertainty lifted oil prices. The 30-year Treasury yield, typically sensitive
to geopolitical risk, rose over 4 bps to 5.311%, its highest since June 2007.
The 10-year yield, a benchmark for mortgages and consumer loans, climbed just
over 2 bps to 4.724%. The 2-year yield, which tracks Fed policy expectations,
gained just over 1 bp to 4.182%. A 60-day window tied to a U.S.-Iran peace
accord expired on Monday and Iran ruled out extending it, supporting crude.
Investors await this week’s Fed minutes for further clues on policy and the rate
path; the Fed voted 9-3 on July 29 to keep rates at 3.50–3.75%, with three
members preferring a 25-bp hike.
