Treasury yields rose because of the upward pressure from higher oil prices. The yield on the 10-year Treasury climbed to 4.22% from 4.15% late Tuesday, a notable move for the bond market. Higher yields crank up the pressure on other investments, pushing downward on their prices.
Treasury yields moved higher as investors weighed a sticky February inflation report and monitored moves in oil prices in the midst of the latest developments in the U.S.-Iran war.
The benchmark 10-year Treasury yield rose more than 8 bps to 4.22%. The 30-year Treasury bond yield added more than 9 bps to 4.87%. The 2-year Treasury note yield advanced more than 7 bps, reaching 3.64%.