U.S. 10-year Treasury yields touched their highest level since November 2023 before easing after strong auction demand. Rising oil prices and shifting Federal Reserve rate-hike expectations added to concerns over inflation and the interest-rate outlook.

US 10-year Treasury yield rose to 4.808% as Brent crude neared $100 and markets braced for ECB and Fed rate decisions in a volatile week.

US Treasury yields surged as Brent crude topped $100 per barrel, with the two-year yield hitting 4.42% and traders repricing Federal Reserve rate

Rising oil prices and mounting fiscal worries also sent the benchmark 10-year U.S. Treasury yield to its highest level since 2023 on Wednesday. It was last at 6.84%.