Traders work on the floor of the New York Stock Exchange (NYSE) in New York, US, on Monday, March 16, 2026.
Michael Nagle | Bloomberg | Getty Images
Treasury yields rose on Tuesday as investors weighed rising tensions in the Middle East and rising oil prices ahead of the Federal Reserve’s policy decision.
The benchmark 10-year Treasury yield was up more than 2 basis points at 4.239%, while the 30-year Treasury bond added nearly 3 basis points to yield 4.887%. The 2-year Treasury note yield was little changed at around 3.686%.
One basis point is equal to 0.01% and yields and prices are inversely related.
US President Donald Trump said on Monday that the US had asked him to delay a planned meeting with Chinese President Xi Jinping in Beijing by “a month or more” because of the ongoing war with Iran.
Trump is expected to travel to China in late March for a meeting with Xi.
But when asked Monday afternoon in the Oval Office if that trip was still on, Trump said: “I don’t know, we’re working on that right now.”
Uncertainty over a US-led coalition to protect shipping through the Strait of Hormuz sent oil prices jumping more than 3% on Tuesday. Shipping traffic through the key shipping lane has plummeted since the Iranian attack, fueling the largest disruption to global oil supplies in history.
International benchmark Brent crude rose 3.43% to $103.65 per barrel, while US West Texas Intermediate rose 3.85% to $97.08 per barrel.
The US is urging allies to send military forces to protect tanker traffic through the strait.
Investors are turning their attention to the Federal Reserve’s second policy meeting of the year, which concludes on Wednesday.
