The yield on 10-year U.S. Treasuries briefly topped 5% for the first time since 2023, while Brent crude prices jumped 4% to nearly $110 per barrel. This surge comes as the Iran war enters its seventh month, with U.S. strategic reserves at their lowest level in over 40 years. The Federal Reserve is expected to raise rates on Wednesday amid inflation that has exceeded the 2% target for more than five years. Economists warn of a potential vicious cycle: rising yields fuel fiscal concerns, which in turn drive rates higher. Tech stocks sold off on Monday, with chipmakers particularly affected.
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