US Treasuries slid with global peers as persistently higher oil prices threatened to worsen inflation and keep interest rates elevated for longer.

The yield on two-year Treasuries climbed to 4.05%, while those on the 10-year rose near 4.52%, both reaching their highest levels in a year. Brent crude climbed above $107 a barrel as the prolonged closure of the Strait of Hormuz fueled supply concerns.