Bonds unsettled as oil and gas climb, earnings loom for AI

Brent crude surged above $90 per barrel as US military attacks on Iran entered a ninth day, with Tehran claiming strikes on two ships in the Strait of Hormuz. Rising energy prices pushed US 10-year Treasury yields to 4.55% and 30-year yields back above 5.0%, reviving inflation worries and pricing in a possible Federal Reserve rate hike by year-end. Meanwhile, chip and AI stocks came under pressure with the Philadelphia Semiconductor Index down 10% last week, setting high stakes for upcoming earnings from Alphabet, Intel, and Tesla.