The US 10-year Treasury yield is expected to only slightly rise following the recent oil war, with Brent crude oil rising by almost 65% after the conflict started. Despite early expectations of a flight to safety in the bond market, the 10-yield has risen nearly 20 basis points to 4.16%, reversing a similar decline in yields prior to the war. Eurozone government bonds and British gilt yields have also risen sharply due to investors becoming less confident about further interest rate reductions from central banks. Short-dated U.S. yields are expected to fall modestly due to expectations of more Fed rate cuts, while longer-dated yields are seen rising due to concerns about heavy debt issuance. However, for now, strategists don't expect another big rise in yields.