The yield on the 10-year US Treasury bond has reached a three-week high.

During the Asian trading session, the 10-year US Treasury yield touched a three-week high of 4.131%, before pulling back from that intraday high. Investors continue to monitor the impact of the Middle East conflict on inflation. However, BeiChen Lin of Russell Investments said that US Treasury bonds are nearing fair value and are an important tool in overall portfolio strategy. Yields for all maturities of US Treasuries have risen sharply, with the long end seeing a larger increase than the short end. Data from Tradeweb shows that the 2-year Treasury yield rose 1.3 basis points to 3.554%, the 10-year yield rose by 3.5 basis points to 4.116%, and the 30-year yield rose by 4.1 basis points to 4.757%.