U.S. Treasury yields increased on Tuesday, as renewed tensions in the Middle East drove global government borrowing costs to their highest point going back to early last year. <\/p>\n
The 10-year Treasury note<\/a> yield \u2014 the main benchmark for mortgages, auto loans and credit card debt \u2014 rose more than 2 basis points to 4.784%, the highest since Jan. 14, 2025.<\/p>\n The longer-dated 30-year Treasury note<\/a> yield, which tends to track geopolitical events, was also up more than 2 basis points at 5.271%.<\/p>\n The yield on the 2-year Treasury note<\/a>, which typically moves in line with short-term Federal Reserve interest rate decisions, was flat at 4.35%. <\/p>\n One basis point equals 0.01%, or 1\/100th of 1%, and yields and prices move inversely to one another.<\/p>\n Borrowing costs rose as traders continue to weigh developments in the Middle East<\/a>, after U.S. forces earlier launched fresh strikes against Iran, and a tanker was struck by unknown projectiles off the coast of Oman in the Strait of Hormuz. <\/p>\n The escalation pushed oil prices<\/a> higher. West Texas Intermediate futures<\/a> were last seen 1.49% higher at $87.04 per barrel, while Brent crude<\/a> \u2014 the international oil price benchmark \u2014 advanced 1.34% to $91.71.<\/p>\n Investors are also monitoring the G20 finance ministers’ meeting<\/a> in Asheville, North CarolinaN.C., which is set to conclude later Tuesday, as well as a raft of domestic economic data, including the ISM Manufacturing PMI print and the Job Openings and Labor Turnover Survey, with nonfarm payrolls figures expected Friday.<\/p>\n