US Two-Year Bond Yield Climbs to 4% for First Time Since June

The two-year US Treasury yield surged to 4% for the first time since June amid a global selloff in government debt as the war in the Middle East intensifies.

The yield climbed 10 basis points on Monday as traders amped up wagers on monetary tightening from the Federal Reserve this year. Bond markets are worried that an energy crisis triggered by the war will create a fresh wave of inflation.