U.S. 10-Year Treasury Yields Hit 4.567% on July 8, Highest Since Late May; WTI Crude Surges 8%

According to Yonhapinfomax, on July 8, U.S. 10-year Treasury yields hit 4.567%, the highest level since late May, as geopolitical tensions and Trump's threats against Iran drove oil prices sharply higher. West Texas Intermediate crude oil futures climbed as much as 8% intraday following Trump's warnings of additional attacks on Iranian infrastructure. The 2-year yield rose to 4.199%, while the 30-year yield reached 5.064%. Trump later moderated his rhetoric, stating he does not expect war with Iran to resume, causing yields and oil prices to pare gains. BMO Capital Markets analyst Ian Lingen noted that sustained escalation risks could reverse recent energy market trends.
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