10-year yield hits highest since January 2025 as higher oil prices stoke inflation worries

Traders work on the floor the New York Stock Exchange (NYSE) in New York, US, on Monday, Feb. 2, 2026.Michael Nagle | Bloomberg | Getty ImagesU.S. Treasury yields increased on Tuesday, as renewed tensions in the Middle East drove global government borrowing costs to their highest point going back to early last year. The 10-year Treasury note yield — the main benchmark for mortgages, auto loans and credit card debt — rose 3 basis points to 4.788% and hit its highest level since Jan. 14, 2025.The longer-dated 30-year Treasury bond yield, which tends to track geopolitical events, was up more than 2 basis points at 5.272%.The yield on the 2-year Treasury note, which typically moves in line with short-term Federal Reserve interest rate decisions, climbed more than 1 basis point to 4.362%.One basis point equals 0.01%, or 1/100th of 1%, and yields and prices move inversely to one another.Borrowing costs rose as traders continue to weigh developments in the Middle East after U.S. forces earlier launched fresh strikes against Iran, and a tanker was struck by unknown projectiles off the coast of Oman in the Strait of Hormuz. The escalation pushed oil prices higher. West Texas Intermediate fu...