Global Market Today: Asian shares mixed as surging oil, Treasury yields weigh

Asian equity markets were mixed today, as rising oil prices and Treasury yields weighed on investor sentiment. Elevated oil prices, driven by tensions between the US and Iran, boosted inflation concerns and heightened expectations of further Federal Reserve interest-rate hikes. This led to a broad sell-off in government bonds, with yields reaching multi-decade highs.

The 10-year Treasury yield climbed to 5.27%, a 19-year high, and the 30-year rate reached 5.55%. Shorter-dated yields also increased as traders anticipated the Fed's continued tightening of monetary policy to curb inflation. US oil prices rose by 0.6% to $93.12 a barrel, while Brent settled near $105 a barrel. The US dollar index rose, and gold fell almost 4% to about $4,120 an ounce.

Equity-index futures for Asia were mixed, with US stocks edging higher after the S&P 500 erased its gains for the month and the Nasdaq 100 fell 1.1%. Investors are closely monitoring US economic data this week, including consumer confidence, JOLTS figures, consumer-spending, inflation data, and payrolls on Friday, in hopes of gauging the economy's strength to support further Fed tightening.