Stalled US-Iran negotiations drive US Treasury yields higher, 10-year bond at 5.208%

With the peace talks between the US and Iran stalling, oil prices rose during the day, and US Treasury yields increased, currently approaching recent multi-year highs but still slightly below that level. Peace negotiators are urging Iran to make concessions on its nuclear program to facilitate the resumption of ceasefire negotiations with the US. Previously, US President Trump rejected the ceasefire proposal put forward by Iran. According to Tradeweb data, the yield on the US 2-year Treasury rose by 4.4 basis points to 4.907%; the yield on the 10-year Treasury increased by 2.8 basis points to 5.208%; and the yield on the 30-year Treasury climbed by 1.7 basis points to 5.518%.