U.S. Treasury sell-off continued on Tuesday, with the 30-year Treasury yield briefly touching 5.621% during trading, a 24-year high, and currently standing at 5.564%. The 10-year Treasury yield closed at 5.256%, also its highest closing level since 2002. Despite a noticeable drop in oil prices and dovish signals from New York Federal Reserve President John Williams, who suggested there was no urgency to raise interest rates, neither of these two negative factors managed to halt the upward trend in yields. The sustained rise in yields is driven by the market's repricing of the Federal Reserve's rate hike path and inflation concerns stemming from energy price disruptions due to the Iran conflict.