The 10-year Treasury yield, the benchmark for U.S. government borrowing, rose by more than 1 basis point in early trade, at 4.3466% and 3.8622%. This follows President Donald Trump's repeated threat to bomb Iranian infrastructure if Tehran does not reopen the Strait of Hormuz by 8:00 p.m. ET on Tuesday. Despite this, Iran has rejected plans for a temporary ceasefire and has called for a permanent end to the conflict. The rise in Treasury yields follows a more positive-than-expected nonfarm payrolls data published on Friday. The 2-year and 3-year yields also rose, with the 30-year bond yields rising by 1 basis and 0.01%, or 1/100th of 1%, respectively.