Treasuries Drop as Oil-Driven Inflation Woes Outweigh Haven Bids
- Bonds are caught between hawkish Fed, geopolitical risks
- Brent nears $100, lifting ruble and market-based price gauges
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Treasuries led losses in global bond markets as inflation concerns, stoked by soaring oil prices, overshadowed any haven bids on the back of Russia-related tensions.
Ten-year U.S. yields traded at 1.94% as of 7:32 a.m. in New York, reversing an earlier decline to a two-week low. Two-year Treasury rates jumped five basis points to 1.52%, set for the biggest increase in a week. U.S. markets reopened on Tuesday after shutting for a holiday.