U.S. Treasury bond yields rose as geopolitical tensions persisted.

During Monday’s trading session, yields increased, alongside the continued closure of the Strait of Hormuz as a two-week ceasefire between Tehran and Washington neared its end.

The two-year U.S. Treasury bond yield—the most sensitive to interest-rate changes—rose by 2.5 basis points to reach 3.725% at 3:10 p.m. Mecca time.

Yields on the 10-year notes also climbed by about 1.4 basis points to 4.258%, while 30-year debt yields rose by roughly one basis point to 4.894%.

Iran had announced at the end of last week that the Strait of Hormuz was reopened fully to commercial navigation, but that development did not last, as Tehran reasserted control over the strait again over the weekend.

It is expected that the continued closure of the Strait of Hormuz—coming as the Washington–Tehran ceasefire ends tomorrow—will intensify inflationary pressures in the United States, potentially reducing expectations for interest-rate cuts among investors.