The U.S. 30-year Treasury yield rose to 5.33%, its highest level in 19 years, while the 10-year yield approached 4.75%, up from below 4% before the Iran war. Moody’s Analytics Chief Economist Mark Zandi attributed the rise in long-term borrowing costs partly to the conflict’s inflationary effects, which have led investors to reassess expectations for Federal Reserve rate cuts this year and consider possible increases. U.S. inflation rose 0.9% in March, lifting annual CPI inflation to 3.3% from 2.4% in February; energy prices increased 10.9% and gasoline prices 21.2%, while core inflation rose 0.2% month over month. The IMF raised its 2026 U.S. inflation forecast to 3.2% from 2.5%, and the OECD raised its forecast to 4.2% from 2.8%. Markets will monitor Federal Open Market Committee meetings, guidance from Chairman Kevin Warsh and other Federal Reserve governors, economic data, oil flows through the Strait of Hormuz and the U.S. fiscal outlook. Prediction-market pricing has indicated reduced odds of a continued Federal Reserve pause. Vera is offering live prediction-market analysis.