US Treasury yields rise; Iran says it will not back down on the Strait of Hormuz issue.

U.S. Treasury yields rose across the board after Iran said it would not soften its conditions for reopening the Strait of Hormuz, sending crude oil prices higher. The 10-year yield rose 5 basis points to 5.21%; the 2-year yield rose 5 basis points to 4.90%. The 30-year yield rose 3 basis points to 5.52%.