Treasuries are poised to snap a three-day run of gains as a surge in oil prices brings price-growth concerns to the fore ahead of this week’s eagerly anticipated US inflation numbers.
Yields on US 10-year notes rose four basis points to 3.99%, while those on two-year securities, which are among the most sensitive to changes in monetary policy, increased two basis points. Brent crude jumped more than 5% — the most in four months — after the US announced sanctions on Russia’s biggest oil producers in an effort to end the war in Ukraine.