Brent Crude Hits $108 and 10-Year Treasury Yields Reach Three-Year High Ahead of CPI Data

Rising geopolitical tensions in the Middle East have pushed oil prices to a four-month high. Meanwhile, higher-than-expected PPI data for August has fueled speculation regarding Federal Reserve interest rate hikes, causing 10-year Treasury yields to climb toward 5%. Markets are now focused on tonight's CPI release as a final indicator before the upcoming FOMC meeting.