US two-year Treasury yield rises to its highest in almost 10 years

LONDON: Short-dated US Treasury yields on Monday rose to their highest level in almost a decade as safe-haven bond markets succumbed to selling pressure on hopes that a US-led strike on Syria would not escalate into a broader conflict.

The two-year US Treasury yield climbed to 2.386 percent in early European trade, its highest level since August 2008.

That pushed the gap over German two-year bond yields to 296 basis points, the widest since 1989.

Ten-year US Treasury yields meanwhile rose to 2.86 percent , its highest in over three weeks.