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Oil price gains push Treasury yields to intraday highs

The move followed an oil-driven rise in yields after reports the White House rejected a plan to restart the June MOU ceasefire.

Reported · Written up by our desk · Economy

Mortgage News Daily said markets were fairly calm overall, with most attention centered on Friday's speech from Fed official Warsh at the Jackson Hole event.

The outlet noted there was little else on the economic calendar and suggested month-end activity could add some momentum early on Monday.

Fuel prices, especially oil, continued to set the tone, with an early afternoon surge in oil pushing Treasury yields to their highest levels of the day.

Mortgage News Daily linked the oil rise to reports that the White House rejected the idea of rekindling the June MOU ceasefire.

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