Global Markets-Stocks fall ahead of Friday's US jobs data; oil gains on Iran concerns
SPY•Yields and dollar rise
U.S. Treasury yields increased as oil prices rose on concerns about U.S. and Israeli access to the Strait of Hormuz and ahead of Friday's jobs report.
Treasury yields fell earlier this week on optimism that a deal to reopen the strait would keep oil prices in check — a key focus for markets given the risk that higher oil could reignite already-elevated consumer price inflation.
The yield on benchmark U.S. 10-year notes US10YT=RR rose 5.67 basis points to 4.674%.
The U.S. dollar rose against the Japanese yen, helped by safe-haven positioning.
The dollar was last up 0.44% against the yen JPY= at 158.45, for its third straight session of gains after falling to 155.20 on Monday, the lowest level since early May.
The yen had risen after the U.S. and Japanese governments intervened in the market on Friday.
