By Sam Goldfarb

Treasury yields are climbing alongside oil prices, with the 10-year yield reaching its highest intraday level since January 2025.

The 10-year yield touched 4.711% in early U.S. trading, according to Tradeweb, surpassing its previous 2026 intraday high of 4.687% set in May.

Bond yields have climbed steadily since the breakdown of the U.S.-Iran ceasefire in late June, with investors worried that the resulting jump in energy prices could push the Federal Reserve to raise interest rates in the coming months.

Yields took another leg up today after Houthi militants claimed attacks on two Saudi tankers in the Red Sea.

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(END) Dow Jones Newswires

July 23, 2026 09:05 ET (13:05 GMT)