US 10-year Treasury yields rise 60bps amid Iran conflict escalation

The US has significantly escalated kinetic operations against Iran, conducting 12 consecutive nights of strikes targeting military positions and infrastructure in multiple provinces, explicitly to secure the Strait of Hormuz. Iran has responded with threats of reciprocal strikes on US infrastructure and the seizure of a Greek-owned tanker in the Strait of Hormuz. Concurrently, Ukrainian drone strikes have expanded to target Wildberries logistics infrastructure within Russia, indicating an evolving economic warfare strategy.