The broader market was under pressure on Monday from higher crude oil prices, which boosted inflation expectations and T-note yields. WTI crude oil surged more than +5% on Monday, pushing the 10-year T-note yield up by +5 bp to 4.70%. The markets are discounting a 52% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16. T-notes were under pressure on Monday from a more than +5% surge in WTI crude oil prices, which boosted inflation expectations. Energy stocks and service providers moved sharply higher on Monday as the price of WTI crude oil surged more than +5%.