The US 10-year Treasury yield, a benchmark for mortgage and auto loan rates, climbed one basis point to 4.81%, its highest level since November 2023, as rising crude oil prices increased expectations that the Federal Reserve and other central banks could raise interest rates.
Meanwhile, the yield on the US 30-year Treasury bond climbed back to levels seen just before Treasury Secretary Scott Bessent expanded a buyback programme in an effort to contain long-term borrowing costs.
