US Treasury yields fell on Tuesday as investors piled into the traditional haven following a federal holiday and amid the escalating Israel-Hamas war that has killed over 1,000 people on both sides.
The war has affected the market as oil prices already shot up globally amid reports that the war in Gaza entered day 4 in which 900 Israelis were killed and 2,400 were wounded in the war with Hamas. According to CNBC, U.S. Treasury yields rose Friday, after the latest jobs data came in better than economists anticipated.
The yield on the 10-year Treasury was up 8 basis points at 4.799%. It had hit a 16-year high at 4.887% earlier on Friday, but eased from its session highs. The yield on the 2-year Treasury was last trading at 5.085% after rising by 6 basis points.
Brent crude settled $3.57, or 4.2%, higher at $88.15 a barrel. U.S. West Texas Intermediate crude closed at $86.38 a barrel, up $3.59 or 4.3%. At their session highs, both benchmarks spiked by more than $4, or over 5%.All you need to know famous gold markets in Pakistan
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US and Worldwide Airlines Pause Operations to IsraelMajor U.S. Airlines and Other International Carriers Suspend Israel Service Amid State of War Declaration After Hamas Attack Kills Over 1,200.
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