U.S. 10-year Treasury yield rose 3.4 bps to 4.412% and 30-year to 4.997% amid Hormuz shipping concerns.
Oil prices stayed above $100 per barrel, pulling back after U.S. Navy destroyers cleared the Strait, allowing two merchant ships through.
Analyst Bill Merz said rising inflation expectations from higher energy costs pressure yields and reduce expectations of Fed rate cuts this year.
Treasury yields have risen steadily since the U.S.-Iran conflict began in late February, reflecting heightened price concerns.