Treasury yields rise ahead_multiple U.S. inflation data and after July’s unexpected negative payroll numbers. Iran’s tough demands to reopen the Strait of Hormuz push oil up 1.5% and keep markets wary. Economists survey by WSJ expect July’s 12‑month CPI to cool slightly to 3.4% from 3.5%, with core slowing to 2.5% from 2.6%. Fed odds of a September hike fall to 46% from 67% a week ago, as CME data suggest a hold.

The dollar index gains 0.2%, with the greenback strengthening 0.6% against the yen. The 10‑year yield now sits at 4.662%, up from Friday’s 4.657%; the two‑year is 4.222%, up from 4.203%. Eurozone bond yields rise modestly amid uncertainty over U.S.-Iran talks, with the German Bund at 3.137%.

U.S. Treasury yields slipped to 4.650% after payroll data, cutting the chance of a Fed rate hike in September to below 50%. U.K. gilt yields climbed to 4.924%, while JGBs edged lower as the BOJ signals a quicker pace of rate hikes.

Markets remain jittery as geopolitical tensions and inflation expectations continue to shape the outlook.