U.S. Treasury yields breach 4.8%, crude oil rises over 4% as Middle East conflict escalates
Overnight, the US Treasury 10-year yield breached 4.8%, WTI and Brent crude oil both rallied over 4%, and European natural gas futures hit a fresh two-year high. Amid sustained tensions in the Middle East, marked by US military strikes on multiple targets in Iran and attacks on oil tankers in the Strait of Hormuz, risk-off sentiment in the markets has intensified.
