Nine nights of strikes send Treasury yields toward danger zone
The 2-year note, which tracks short-term Federal Reserve policy more closely, gained more than 5 basis points to 4.225%, while the 30-year bond climbed above 5.119%.
Ninth strike in nine nights
US Central Command confirmed the latest operation at 10 p.m. ET Sunday, describing a three-hour exercise targeting Iranian military command centers, air defense and coastal surveillance sites, maritime capabilities, and missile and drone launch sites.
The strikes, the command said, were intended to further diminish Tehran’s ability to threaten commercial shipping through the Strait of Hormuz, the narrow chokepoint responsible for roughly 20% of global oil transportation.
Iran has hit back with fresh attacks on targets in Bahrain, Saudi Arabia, and Jordan, while Kuwait’s army confirmed Monday that its air defense systems were intercepting hostile drone attacks originating from Iran.
The scope of retaliation underscores why buyers have already retreated as mortgage rates climbed to an 11-month high, leaving brokers with a shrinking pool of committed purchasers.
