The U.S. 10-year Treasury yield held steady Wednesday as investors pored through the latest data showing inflation last month at its highest in three years, though some pricing pressures weren’t as bad as feared.

The yield on the 10-year Treasury note — the main benchmark for mortgages, auto loans and credit card debt — was little changed at 4.534%.

Shorter- and longer-dated maturities were also little changed. The yield on the 2-year Treasury note, which closely tracks short-term Federal Reserve interest rate decisions, was unchanged at 4.131%.

The 30-year Treasury yield, which traditionally reacts more to geopolitical events, also stood still at 5.013%.

One basis point equals 0.01%, or 1/100th of 1%, and yields and prices move inversely to one another.

“With the [U.S. Treasury] curve having already absorbed significant repricing on both sides, the report may prompt a near-term pause in rate moves,” wrote Karen Manna, fixed income investment director at Federated Hermes. “Even so, the backdrop maintains some upward pressure on yields.”

Yields held where they were after the latest inflation data — while hot — came in as expected. The May consumer price index spiked to a seasonally adjusted 0.5% for the month, and 4.2% from a year ago, which was the fastest rate of price increases since 2023, according to the Bureau of Labor Statistics. Both numbers were in line with expectations from economists polled by Dow Jones.

Core inflation, which strips away volatile food and energy prices, added 0.2% for the month, softer than the 0.3% consensus estimate. It also rose 2.9% over the past year, in line with forecasts.

The hot inflation data comes right before Kevin Warsh leads his first Federal Reserve meeting as chair next week. Policymakers are set to convene June 16-17.

The Fed is expected to hold rates steady this month, but the recent spike in pricing pressures are adding to conviction that the next major move from the central bank will be a hike. Fed funds futures were last pricing in a quarter point raise at the December meeting, according to the CME FedWatch Tool.

May’s producer price inflation data is due out Thursday.

— CNBC’s Jeff Cox contributed to this report.

Treasury yields inched lower on Wednesday as investor optimism over a potential settlement to the war in Iran was undented by pressure on the fragile ceasefire between Washington and Tehran. 

The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing — fell more than 2 basis points to 4.463%.

The 2-year Treasury note yield, which more closely tracks short-term Federal Reserve interest rate policy, dropped 2 basis points to 4.029%. The longer-dated 30-year Treasury bond yield fell 2 basis points to 5.001%. 

One basis point is equal to 0.01%, and yields and prices move in opposite directions.

U.S. forces carried out what the Pentagon described as “self-defense” strikes in southern Iran early Tuesday, targeting missile launch sites and Iranian vessels allegedly attempting to deploy mines, even as Washington insisted it was still observing restraint under the ongoing ceasefire framework.

In response, Iran’s foreign ministry accused the U.S. of a “gross violation” of the terms of the ceasefire.

Oil prices fell Wednesday as traders hoped for progress on peace negotiations between the U.S. and Iran. Brent crude futures were last seen down more than 3% at just above $95 per barrel, while U.S. West Texas Intermediate crude futures lost 4% to below $90 a barrel.

Meanwhile, global sovereign bond markets broadly rallied on Wednesday. U.K gilts extended a relief rally that began on Friday as investor concerns about domestic political developments began to ease.

U.K. gilt yields had spiked to multi-decade highs in recent weeks after a set of disastrous nationwide local election results for the governing Labour Party put Prime Minister Keir Starmer’s premiership under pressure.

Treasury yields fell on Tuesday as bond markets returned from a Memorial Day break to bolstered hopes of a Middle East peace deal, even as the U.S. military conducted fresh strikes on Iran. 

The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing — fell more than 6 basis points to 4.510%.

The 2-year Treasury note yield, which more closely tracks short-term Federal Reserve interest rate policy, fell more than 6 basis points to 4.066%. The longer-dated 30-year Treasury bond yield fell more than 5 basis points to 5.028%. 

One basis point is equal to 0.01%, and yields and prices move in opposite directions.

Yields fell across the board, catching up with large declines seen in European sovereign yields on Monday.

However, European bonds gave some gains on Tuesday as investors mull mixed signals around the status of U.S.-Iran peace talks. 

U.S. forces carried out what Central Command described as “self defense” strikes in southern Iran early Tuesday. Secretary of State Marco Rubio, who is in India, said that the Strait of Hormuz will ultimately have to be opened “one way or the other.”

Iran’s Islamic Revolutionary Guard Corps on Tuesday said it would retaliate against violations of the ongoing ceasefire after it identified and engaged U.S. drones and an F-35 jet fighter that entered the country’s airspace.

The apparent flare-up in hostilities came despite President Donald Trump earlier indicating in a TruthSocial post that a peace agreement could be in sight, with negotiations “proceeding nicely.”

Looking ahead, investors will be monitoring a slew of economic data released later this week, including April’s personal consumption expenditures (PCE) Price Index readings, the Fed’s preferred measure of assessing inflation. 

Bank of America forecasts a 0.4% increase from March, and a 3.8% increase in headline PCE year-on-year.

— CNBC’s Lim Hui Jie and Hugh Leask also contributed to this report.

U.S. Treasury yields were mixed on Friday as Kevin Warsh took the reins at the Federal Reserve. The volatility followed a week that had earlier seen borrowing costs rise to multi-year highs in response to renewed concerns about inflation.

The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing — fell less than 1 basis point to 4.576%.

The 2-year Treasury note yield, which more closely tracks short-term Federal Reserve interest rate policy, traded up more than 4 basis points to 4.134%. The longer-dated 30-year Treasury bond yield fell more than 3 basis points to 5.079%. 

One basis point is equal to 0.01%, and yields and prices move in opposite directions.

The 30-year Treasury yield briefly climbed above 5.19% earlier this week, reaching its highest level since 2007, before easing on Thursday. 

The volatility in the bond market came as U.S. President Donald Trump swore in Kevin Warsh as chair of the Federal Reserve on Friday. So-called bond vigilantes have eyed the appointment closely, looking for signs of whether Warsh will heed Trump’s call to further cut rates despite inflationary risks.

Meanwhile, the U.S. and Iran have signaled progress in talks to end the war, but the combatants remain at loggerheads over Tehran’s enriched uranium stockpile and tolls on the strategically vital Strait of Hormuz.

U.S. Secretary of State Marco Rubio on Thursday said there were “good signs” that an agreement to end the conflict is in sight, but warned any such deal would be “unfeasible” if Iran pursues measures to permanently control shipping through the Strait of Hormuz.

“No one in the world is in favor of a tolling system. It can’t happen [and] it would be unacceptable,” Rubio told reporters in Miami, Florida.

— CNBC’s Sam Meredith and Jeff Cox also contributed to this report.

Treasury yields resumed their march higher on Thursday, with borrowing costs rising across the curve as oil prices rose and investors’ attention returned to the inflationary pressures facing the U.S. economy.

The 10-year U.S. Treasury note yield — the main benchmark for mortgages, auto loans and credit card debt — increased by more than 3 basis points to 4.607%. The longer-dated 30-year Treasury bond yield, which is more sensitive to political risks, advanced more than 2 basis points to 5.1334%.

The 2-year Treasury note yield, which typically is more sensitive to short-term Federal Reserve interest rate decisions, was up by nearly 5 basis points at 4.085%.

One basis point is equal to 0.01%, and yields and prices move in opposite directions.

Bonds were under pressure as crude prices jumped reported, citing sources, that Iran’s supreme leader issued a directive to keep enriched uranium within the country. West Texas Intermediate futures were up 2.9% at $101.04 per barrel. Brent crude popped 2.3% $107.36.

Thursday’s hike in borrowing costs follows a sharp pull-back during the previous session, which came after global bond yields touched multi-decade highs earlier in the week on the back of renewed inflation fears.

The U.S. 30-year yield slipped more than 6 basis points on Wednesday, with the 10-year Treasury yield plunging more than 9 basis points on the day. The respite came as investors absorbed minutes from the April 27-28 Federal Open Market Committee, which showed that a majority of Fed officials anticipate interest rates rising should the Iran war drive inflation higher.

Asia-Pacific markets fell on Wednesday as investors weighed elevated bond yields and renewed geopolitical tensions, following U.S. President Donald Trump’s statement on Tuesday that he was “an hour away” from deciding to attack Iran, before he was persuaded to postpone the strike for a few days.

Yields on U.S. Treasurys briefly hit 5.197% during the earlier session, marking their highest level since July 2007, as investors continued to dump bonds on fears inflation is reigniting. The longer-dated 30-year Treasury bond yield was last trading almost 1 basis point lower at 5.173%.

Japan’s super-long government bond yields eased slightly on Wednesday, with the 30-year JGB yield falling over 9 basis points to 4.068% after hitting record highs on Monday.

Meanwhile, shorter-dated Japanese debt continued to come under pressure, with the 5-year JGB yield climbing to a record 2.041%.

State Street’s Masahiko Loo said record-high Japanese government bond yields are feeding into a broader global “duration reset,” though he stressed the move should tighten global financial conditions only gradually rather than trigger systemic stress.

While higher JGB yields could weigh on duration-sensitive assets and raise global borrowing costs, Loo said the repricing remains part of a broader adjustment in bond markets rather than a Japan-specific funding shock. He noted that Japan’s debt market is still largely domestically financed and underpinned by massive household savings buffers.

Japan’s Nikkei 225 lost 1.23% to 59,804.41 while the Topix declined 1.53% to 3,791.65. South Korea’s Kospi fell 0.86% to 7,208.95 while the small-cap Kosdaq dropped 2.61% to 1,056.07. Shares of Samsung Electronics edged 0.18% higher even as wage talks between the company and the workers broke down, with more than 47,000 employees now set to go on strike Thursday.

In Australia, the S&P/ASX 200 lost 1.26% to 8,496.6.

Hong Kong’s Hang Seng index slid 0.57%, and the mainland’s CSI 300 closed flat.

U.S. stock futures ticked slightly higher. S&P 500 futures added 0.14%, while Nasdaq 100 futures added 0.25%. Futures tied to the Dow Jones Industrial Average rose 55 points, or 0.11%.

Overnight on Wall Street, stocks closed lower with the S&P 500 posting its third straight losing session, as a jump in bond yields threatened the bull market.

The S&P 500 closed down 0.67%, ending at 7,353.61, while the Nasdaq Composite finished 0.84% lower at 25,870.71. The Dow Jones Industrial Average shed 322.24 points, or 0.65%, to close at 49,363.88.

— CNBC’s Sean Conlon, Sarah Min and Lisa Kailai Han contributed to this report

The legal woes of Indian billionaire Gautam Adani in the U.S. are nearing an end as authorities move to close investigations on charges of bribery, fraud, and buying Iranian-sanctioned energy against the businessman and his firm.

On Monday, the U.S. Treasury Department settled a case against Adani Enterprises, the flagship company of the Adani Group, involving the purchase of sanctioned Iranian energy between November 2023 and June 2025.

The Indian firm has agreed to pay $275 million to settle “its potential civil liability for apparent violations of OFAC [Office of Foreign Assets Control] sanctions on Iran,” according to an official statement.

The company had purchased shipments of liquefied petroleum gas, or LPG, from a Dubai-based trader that “purported to supply Omani and Iraqi gas” but overlooked red flags indicating that the supplies originated in Iran, the U.S. regulator said.

It added that the settlement reflects “violations were egregious and not voluntarily self-disclosed.”

Adani Group did not immediately respond to CNBC’s request for comments.

The Adani group oversees a sprawling business empire spanning ports, power, and infrastructure, comprising several publicly traded companies, with the Adani family holding majority stakes in several firms.

In another major relief for the Indian business group, the U.S. Department of Justice also said it would drop criminal charges in a bribery and fraud probe against Gautam Adani, according to a report by the Wall Street Journal on Monday.

The DOJ’s move was anticipated after the Securities and Exchange Commission last week moved to settle its civil lawsuit against Adani and his nephew, Sagar Adani.

The SEC’s civil lawsuit had alleged that the two men misled investors as part of a bribery and fraud scheme tied to solar contracts in India, the same charges that were being investigated by the DOJ as well.

As per the WSJ report, the DOJ has reviewed the case and “decided not to devote further resources to these criminal charges” against Adani and the others.

In November 2024, a New York federal court had indicted Adani along with seven others on charges related to a massive bribery and fraud scheme, which the Adani Group had denied as “baseless.”

The people were accused of having paid Indian government officials more than $250 million in bribes to obtain solar energy supply contracts worth more than $2 billion in profits.

Although the alleged conduct at the center of the DOJ case occurred in India, the defendants were charged with misleading U.S. and international investors about their company’s compliance with anti-bribery and anti-corruption practices while raising over $3 billion to fund those energy contracts.

According to a New York Times…

Yields on U.S. Treasurys were slightly lower early Tuesday, easing losses in the previous session as traders weigh up central banks’ response to renewed inflation fears.

The 10-year U.S. Treasury note yield — the key benchmark for U.S. government borrowing — was more than 1 basis points lower on Tuesday morning, at 4.6073%. The longer-dated 30-year Treasury bond yield, which is more sensitive to political risks, was last seen holding steady, at 5.1428%.

The 2-year Treasury note yield, which tends to react in line with short-term Federal Reserve interest rate decisions, was also more than 2 basis points lower at 4.0695%.

One basis point is equal to 0.01%, and yields and prices move in opposite directions.

Treasurys were taking a breather after yields soared on Monday, with the U.S. 10-year note yield touching its highest level in 15 months at one point.

It came as a Bank of America survey published on Tuesday revealed 62% of global fund manager respondents expect 30-year Treasury yields to hit 6%, which would mark the highest level since late 1999 and an increase of roughly 86 basis points from the current level. This compares to just 20% of respondents who said they are targeting a 30-year yield of 4%.

Yields on 10-year German bunds dropped more than 1 basis point to 3.1471% early on Tuesday. Despite easing, the yield on 10-year U.K. Gilts — the benchmark for Britain’s government debt — still remains above 5%, at 5.115%.

Yields on longer-term government debt in the U.K. and Germany also remain elevated.  The yield on German 30-year bunds stood at 3.6836% on Tuesday, with Britain’s 30-year Gilt yield rising less than 1 basis point to 5.773%.

Mohit Kumar, chief economist and strategist at Jefferies, said the prevailing sentiment across global bond markets is being driven by the inflationary impact, primarily caused by soaring energy costs, as well as deficit concerns, and, in the U.K., country-specific political turmoil.

“Even if we get a [Middle East] deal… oil is not going back to pre-war levels. We think it’s going to be 25-30% in higher in six months’ time,” Kumar told CNBC’s “Europe Early Edition” on Tuesday.

The price of Brent crude, the international oil benchmark, was last seen 1.5% lower at $110.38 a barrel, while U.S. West Texas Intermediate was flat at $108.67.

Then there’s the deficit impact.  “Every government is going to provide subsidies for households for fuel — which means we have more borrowing, and that’s a pressure at the long end of the curve.”

However, Kumar noted that while the market is currently pricing in rate hikes, he said that “it’s not justified” given that inflation is likely to rise as much as growth is likely to fall.

U.S. Treasury yields were little changed Monday, taking a breather after global bond rout that sent them sharply higher last week.

The 10-year U.S. Treasury note yield — the key benchmark for U.S. government borrowing — was 1 basis point lower at 4.587%. Earlier in the day, it hit its highest level in 15 months.

The longer-dated 30-year Treasury bond yield, which is more sensitive to political risks, also fell 1 basis point to 5.119%. It hit its highest level in more than a year last week. The 2-year Treasury note yield, which tends to react in line with short-term Federal Reserve interest rate decisions, slipped to 4.071%.

One basis point is equal to 0.01%, and yields and prices move in opposite directions.

Treasury yields soared last week as the outlook on negotiations between the U.S. and Iran dampened, raising inflation fears as oil prices remain elevated. On top of that, new U.S. data showed upward price pressures are beginning to filter down to the consumer.

Treasury Secretary Scott Bessent joined G7 colleagues and central bankers in Paris on Monday, as fresh concerns over inflation and public debt weigh on global bond markets.

Asked whether she is worried about bond market volatility, President of the European Central Bank Christine Lagarde said: “I always worry, that’s my job.”

The latest spike in yields isn’t exclusive to the U.S., either. Yields on 10-year German bunds rose more than 2 basis points to reach 3.1827%, while Japan’s 10-year JGB surged 13 basis points to reach 2.739%.

In the U.K., yields on 10-year Gilts, the benchmark for British government debt, eased slightly. Yields were lower by about 1 basis point in early dealmaking, but remain elevated at 5.169% amid uncertainty over the fate of Britain’s Prime Minister Keir Starmer. The 30-year Gilt yield was about 3 basis points lower at 5.818%.

With the economic fallout from the Middle East conflict front and center of the G7 summit, central bankers now face a tightrope on interest rates, said Will Hobbs, chief investment officer at Brooks Macdonald.

“Inflation is going to be a tricky, annoying problem for central banks and bond investors,” Hobbs told told CNBC’s  ‘Europe Early Edition’ Monday.

Oil prices rose again on Monday, with Brent crude, the international benchmark, up 1.8% to $111.16 a barrel, while U.S. West Texas Intermediate futures were last seen at $107.56 per barrel, a rise of more than 2%.

Yields on U.S. Treasurys moved higher at the start of a new trading week as traders reacted to geopolitical developments around the Iran war ahead of President Donald Trump‘s meeting with China premier Xi Jinping in Beijing later this week, and prepared for the latest inflation reading out Tuesday.

The yield on the 10-year U.S. Treasury note — the key benchmark for government borrowing — was more than a basis point higher, at 4.378%.

The 2-year Treasury note yield, more sensitive to short-term Federal Reserve interest rate policy, rose almost 2 basis points to reach 3.912%. The longer-dated 30-year Treasury bond yield was more than 1 basis point higher at 4.959%.

One basis point is equal to 0.01%, and yields and prices move in opposite directions.

The war in Iran grew darker on Monday amid signs that any peace agreement — which lifted markets last week— could be stalling. President Trump blasted Iran’s counterproposal to end the 10-week conflict as “totally unacceptable”, while Iranian President Masoud Pezeshkian said his country would “never bow” to its enemies.

Oil prices edged back up toward $100 a barrel in early trading Monday, with West Texas Intermediate futures last up nearly 2%, close to $97 per barrel.

This week’s April consumer price index report due out Tuesday at 8:30 a.m. ET will be key. Non-seasonally adjusted year-over-year inflation is set to rose to 3.7% from 3.3% in March, according to economists polled by FactSet. Excluding volatile food and energy prices, inflation is estimated to rise to 2.7% in April from 2.6% the month before.

Either way, consumer prices are rising far in excess of the Federal Reserve’s stated target of no more than 2% growth in retail inflation.

The jobs market outperformed expectations in April, with nonfarm payrolls reported on Friday to have risen 115,000, down from 185,000 in March but far above the 55,000 forecast by economists surveyed by Dow Jones. Unemployment held steady at 4.3%.

Austan Goolsbee, president of the Federal Reserve Bank of Chicago, said the jobs picture has “been stable without being good.” He told CNBC that there is “not a lot of evidence that the job market is falling apart,” but he conceded that the hiring rate remains low.