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The 10-year Treasury yield reached its highest level since January 2025 on Tuesday.
Oil prices moved higher through the session, stoking inflation concerns, while investors tracked a reignition of tensions in the Middle East. Rising crude feeds into consumer prices by lifting costs across the economy.
When inflation expectations climb, investors holding longer-duration government debt demand higher returns. The 10-year Treasury carries sensitivity to that dynamic.
Prices and yields move in opposite directions; selling pressure on the note translated into a higher rate through the day. The Middle East situation provided a second layer of pressure.
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