10-Year Treasury Yield Tops 4.71%, Brent Holds Near $88 After Houthi Strike on Saudi Aramco's Jazan Refinery

The US 10-year Treasury yield rose above 4.71% Monday, its highest level in weeks, as traders priced in a growing chance of a September Fed rate hike ahead of Wednesday's July CPI report. Brent crude held near $87.55/barrel (+11 cents on the day), still elevated after a Houthi attack on Saudi Aramco's Jazan refinery on Aug 9 reignited concerns about Gulf energy-supply risk, even as it remained well off the $100.69 peak hit during the July 23 Hormuz/Red Sea shock. The combination of a firmer energy-price floor and hawkish rate repricing kept bond and oil markets on edge heading into the week's inflation data.