The yield on the 10-year US Treasury note hovered near 4.57% on Tuesday, close to a two-week high, after stronger-than-expected US employment data bolstered expectations of a Federal Reserve interest rate hike by year-end. Markets are now pricing in roughly a 70% probability of a 25-basis-point increase in December, even as the Fed is still widely expected to keep rates unchanged at its meeting later this month. Investors are now focused on the upcoming US CPI and PPI releases later this week for additional guidance on the Fed’s policy trajectory. At the same time, an agreement between Iran and Israel to halt attacks against each other weighed on oil prices and helped ease inflation concerns. President Donald Trump said both sides were seeking an immediate ceasefire and that final negotiations were progressing.