All three main equity indexes opened lower and stayed in the red through the last trading session of August amid a re-escalation of war in the Middle East. Crude oil spiked and the 10-year Treasury yield hit its highest level since January 2025 after the U.S. attacked Iran for the first time in a month, and the Islamic Republic responded by striking its neighbors Jordan and the United Arab Emirates.
The yield on the 10-year Treasury rose to 4.744% from 4.722% on Friday, reaching a 19-month intraday high of 4.768%. The 30-year Treasury yield (+4.1 bps, 5.249%) was up, too, but the 2-year Treasury yield (-0.1 bps, 4.339%) ticked lower. The front-month West Texas Intermediate crude oil futures contract added 3.0% to $85.92 per barrel.
