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U.S. Treasury yields edged higher on Monday after a dramatic weekend that saw the Strait of Hormuz reopened and subsequently closed by Iran, with the two-week ceasefire set to expire on Tuesday.
The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing — rose over two basis points to 4.267%.
The 2-year Treasury note yield, which more closely tracks short-term Federal Reserve interest rate policy, was more than 3 basis points higher at 3.73%. The longer-dated 30-year Treasury bond yield was seen trading broadly flat.
One basis point is equal to 0.01%, and yields and prices move in opposite directions.
