Mumbai, March 3 -- Treasuries pulled back sharply after moving notably higher over the two previous sessions. Subsequently, the yield on the benchmark ten-year note which moves opposite of its price, surged 8.6 bps to 4.04%.

U.S. Treasury yields moved higher on Monday even after the U.S. and Israel launched attacks on Iran over the weekend as investors failed to use the U.S. bond market as a safe haven. A spike in oil prices raised inflation worries, helping to push yields higher.

The benchmark 10-year Treasury yield rose 8 bps to 4.04%. The 30-year Treasury bond added more than 5 bps to yield 4.68%. The yield on the 2-year Treasury note was up 10 bps at 3.47%.

Published by HT Digital Content Services with permission from Capital Marke...