The benchmark 10-year Treasury yield advanced to 4.73% as market participants speculated the Federal Reserve might implement interest rate increases if oil prices maintain elevated levels. Market participants will closely scrutinize Wednesday’s consumer price index release. Trading activity remained subdued as numerous institutional market participants continue their summer holiday schedules. Semiconductor manufacturer Intel successfully raised $20 billion through an equity offering, surpassing its original $15 billion target. Nvidia also experienced a decline exceeding 2% after announcing a collaboration with prominent financial institutions including Apollo, BlackRock, Goldman Sachs and KKR.