The 10-year U.S. Treasury yield reached 5.041%, its highest intraday level since July 2007, as oil supply concerns, rising public debt, a weak 20-year Treasury auction and expectations of tighter monetary policy drove a global bond sell-off. Brent crude settled at $108.75 a barrel and West Texas Intermediate at $105.83 after disruptions involving Saudi Arabia's East-West pipeline and Libyan oil fields. Higher Treasury yields are raising borrowing costs, with the average 30-year mortgage rate reaching a 14-month high of 6.76% last week. Markets also awaited the Federal Reserve's rate decision, revised Bank of England quantitative-tightening plans, a Brazilian rate decision and talks between U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng.