US Treasury yields rise, driven by factors other than high oil prices

They stated that this is exerting upward pressure on global yields. They said the market is sending a clear signal that higher energy costs and tighter monetary policy do not necessarily conflict with positive growth prospects. The strategists noted, for example, that driven by robust earnings, the S&P 500 index is hitting record highs, credit spreads are even narrower than in February, and the optimistic market sentiment sparked by Friday’s strong US employment data could further boost global 10-year yields.