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Iran tanker seizure lifts oil prices and pushes 10-year yields higher

10-year Treasury yields rose to the high of the day after oil surged on headlines tied to Iran seizing a UAE tanker in the Strait of Hormuz.

Reported · Written up by our desk · Mortgages

Mortgage News Daily reports that markets saw modest early pressure after headlines indicated Iran planned to escalate hostilities.

The sharpest increase in oil prices came when Iran seized a UAE tanker in the Strait of Hormuz, which then spilled over into rates.

According to Mortgage News Daily, 10-year Treasury yields followed oil higher and reached the highs of the day shortly afterward.

The outlet said the session was fairly straightforward, though it was moderately unpleasant for investors who prefer low-rate conditions.

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