The roughly $30 trillion US Treasury market, long considered the safest corner of global finance, is now handing losses to investors who bought in at lower yields. What’s driving yields higherGeopolitical tension, particularly the conflict in Iran, has pushed oil prices higher and rekindled inflation concerns. That wave of new corporate supply competes with Treasuries for investor dollars, effectively crowding the market and pushing yields higher across the board. The squeeze on portfoliosAs of mid-August, the 10-year Treasury yield sat around 4.656%, while the 2-year yield was approximately 4.182%. Rising Treasury yields ripple through the entire financial system.