Treasury yields hit one-year highs amid inflation worries
The US-Iran conflict is driving up bond yields, with 10-year yields reaching 4.62% and 30-year yields at 5.14%.
The Strait of Hormuz remains effectively closed, with only small regional cargo ships and Iranian coastal ships passing through.
The lack of oil and gas tankers is taking a toll on markets, with the bond market reflecting inflation concerns and economic worries.