0903 ET - Treasury yields rise, hovering near multi-year highs, amid expectations the Fed may raise interest rates Wednesday. The conflict in the Middle East pushes oil prices up by nearly 5%, stoking inflation fears. The WSJ Dollar Index rises 0.5%, as the greenback strengthens 0.9% against the yen and 0.6% versus the euro. The 10-year yield is at 4.985% and could breach 5% for the first time since 2023, on an intraday basis. The benchmark hasn't closed above 5% since 2007. The two-year is at 4.641%, receding after reaching its highest level since July 2024.
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