Brent crude at nearly $90 a barrel and stalled Hormuz talks push 30-year Treasury yields to 5.28%, close to multi-decade peaks.
Brent crude oil climbed to nearly $90 a barrel, rising 5% in a single session, as tensions over the Strait of Hormuz escalated. The U.S. and Iran remain deadlocked on terms for reopening the critical shipping lane, fueling concerns over prolonged supply disruptions and inflationary pressures.
The 30-year Treasury yield reached 5.28%, approaching its highest level in nearly two decades. Persistent inflation fears, driven by energy market volatility, have weighed on bonds despite strong corporate earnings in the second quarter.
Equity markets showed restraint as higher yields and oil prices stoked worries about tighter financial conditions. The standoff in the Gulf added to broader macroeconomic uncertainty, overshadowing positive earnings momentum.