The US 10-year Treasury yield rose to 4.91%, marking its highest level since 2023. Concurrently, the 30-year Treasury yield climbed to 5.35%. Treasury prices were under pressure as Brent crude oil surged to $105 per barrel, with wholesale inflation also advancing. The market is increasingly pricing in a Fed rate hike for next week's policy meeting. Treasury Secretary Scott Bessent's interventions, including an upsized bond buyback, have had little effect on lowering long-dated yields.