The 10-year U.S. Treasury note yield, the key benchmark for government borrowing, rose more than 2 basis points to 4.214%. The 2-year Treasury note yields also rose, with the longer-term interest rate rate more closely followed by the Federal Reserve. This comes as Iran's Revolutionary Guard Navy reportedly seized two container ships in the Strait of Hormuz, raising concerns about the fragile nature of the ceasefire. The news comes after President Donald Trump announced the extension of a ceasefire with Iran to allow for the country's leaders to submit a "unanimous" proposal to end the war.