- The demand for haven assets decreased as Treasury yields increased due to ongoing diplomatic efforts to stop the Israel-Hamas crisis from escalating into a larger conflict.

- The benchmark 10-year yield increased by more than 4.7%, while the 30-year yield increased by more than four basis points, further steepening the yield curve.

- According to Matthew Simpson, a senior market strategist at City Index, "it seems that with the Middle East conflict in a holding pattern, bonds have lost the little bit of demand they garnered from last week's safe-haven flows, sending yields inadvertently higher."

- With investors keeping an eye on ongoing initiatives to reduce tensions in the Middle East, gold and oil prices declined for a second day. Meanwhile, the kiwi was the poorest performer among G-10 counterparts as the country reported slower-than-expected inflation. Elsewhere, the dollar stabilised after sliding in the previous session.

- As part of an effort to stop the violence from spreading, US President Joe Biden will soon visit Israel. Following discussions with Arab states, Secretary of State Antony Blinken also visited Israel to meet with Prime Minister Benjamin Netanyahu. In a phone conference with the presidents of Egypt, Syria, Iran, and the Palestinian Authority, Russian President Vladimir Putin claimed there was "unanimous opinion" that a cease-fire was necessary. He had a separate conversation with Netanyahu.