Treasury yields returned to rising and upped the pressure on financial markets worldwide. Higher yields make mortgages and other kinds of borrowing more expensive for households and for businesses which slows the economy. They also hurt prices for all kinds of investments, from stocks to gold to crypto currencies.
The yield on the 10-year Treasury climbed to 4.39% from 4.34% late Monday and from just 3.97% before the war. The yield on the two-year Treasury, which more closely tracks expectations for what the Federal Reserve will do with overnight interest rates, rose to 3.92% from 3.83% late Monday.