WASHINGTON (dpa-AFX) - Extending the weakness seen during last Friday's session, treasuries showed a notable move to the downside during trading on Monday.
Bond prices came under pressure early in the session and remained firmly negative throughout the day. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, advanced 3.8 basis points to 4.758 percent.
The ten-year yield added to the 4.8 basis point jump seen in the previous session, reaching its highest closing level since early January 2025.
The continued weakness among treasuries came amid concerns about a re-escalation of the military conflict in the Middle East following a period of relative calm.
Over the weekend, the U.S. and Iran traded strikes for the first time in over a month, contributing to a jump in crude oil prices.
U.S. crude oil futures are surging by nearly 3 percent after the U.S. attacked two Iranian rocket launchers on Larak Island and Iran retaliated by launching an attack on two U.S. bases in Jordan.
The sharp increase in crude oil prices has contributed to renewed worries about the outlook for inflation ahead of next month's Federal Reserve meeting.
According to CME Group's FedWatch Tool, the chances the central bank will raise interest rates by a quarter point have jumped to 65.9 percent following Fed Chairman Kevin Warsh's hawkish remarks last Friday.
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