| Instrument | Yield |
| US 2Y Treasury | ~4.30% |
| US 10Y Treasury | ~4.60–4.65% |
| UK 30Y Gilt | ~5.85% |
| German Bund 10Y | ~2.75% |
Takeaways
- Rising oil prices continue feeding inflation expectations
- Markets largely pricing out aggressive Fed cuts
- Long-duration bonds remain vulnerable
➡️ Higher-for-longer remains the dominant rates regime.