(RTTNews) - After rebounding from last Friday's sell-off early in the session, treasuries once again came under pressure over the course of the trading day on Monday.
Bond prices pulled back well off their early highs and into negative territory. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 2.8 basis points to 4.623 percent.
With the turnaround, the ten-year yield added to the 13.4 basis point surge seen in the previous session, reaching its highest closing level in over a year.
The weakness that emerged among treasuries came amid an extended increase by the price of crude oil, with U.S. crude oil futures jumping by 1 percent.
Lingering concerns about the conflict in the Middle East contributed to the advance by crude oil prices, as President Donald Trump has warned Iran the "clock is ticking."
Trump said in a post on Truth Social that Iran "better get moving, FAST, or there won't be anything left of them," leading to worries about the U.S. renewing military action.
A report from Axios citing two U.S. officials said Trump is expected to convene his top national security team in the Situation Room on Tuesday to discuss military options.
Trump later revealed in a post on Truth Social that an attack on Iran was scheduled for tomorrow, but he has decided to hold off due to requests from Middle East leaders.
However, Trump said he has instructed the military to be "prepared to go forward with a full, large scale assault of Iran, on a moment's notice, in the event that an acceptable Deal is not reached."
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