According to Bitget market data, the yield on the 10-year U.S. Treasury climbed to 4.8102% on September 2, the highest level since late 2023. The rise came as U.S.-Iran tensions escalated once again and risks tied to the Strait of Hormuz pushed oil prices higher. Instead of driving money into safe-haven assets, the shock was read by markets as an inflationary one, prompting a sell-off in U.S. government bonds. Hawkish comments from Warsh added to the pressure. In turn, market pricing for a September rate hike rose noticeably, lifting global discount rates and financing costs along with it.
BlockBeats reported on September 2 that the yield on the 10-year U.S. Treasury rose to 4.8102%, according to Bitget market data. That reading marks the highest level since late 2023.
The move followed another escalation in U.S.-Iran tensions, while risks around the Strait of Hormuz pushed oil prices higher. Markets read the shock mainly as an inflationary force rather than a trigger for safe-haven demand, so U.S. Treasuries were sold off. With recent hawkish remarks from Warsh adding to the narrative, pricing for a September rate hike climbed noticeably. Global discount rates and financing costs moved higher as a result.
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