US Treasury Yields Hit Multi-Year Highs as Oil Prices Remain Elevated

The 10-year US Treasury yield briefly reached 5.02%, marking its highest level since 2007, while the cost of US government borrowing climbed to a fresh 19-year high on Tuesday. This comes as oil prices remain elevated, with Brent crude trading around $107 a barrel and US crude above $102, intensifying inflation concerns and adding pressure on central banks.