Treasury yields have risen following the collapse of negotiations between Iran and the U.S. as investors react to plans to blockade the Strait of Hormuz. The 10-year Treasury note yield, the benchmark for government borrowing, rose more than 1 basis point to 4.333%. The 2-year rate, which is more sensitive to short-term Federal Reserve interest rate decisions, also rose by more than 2 basis points to 3.8242%. The most recent U.K. CPI reading was at its highest level in 2 years, raising concerns that the energy price shock could spread.