U.S. Treasury yields rise amid war tensions

Group 1: U.S. Treasury Yields and Employment Data - U.S. Treasury yields increased on March 4 as investors evaluated the impact of the U.S.-Iran war on global markets [1] - The ADP national employment report indicated a rise of 63,000 private jobs in February, marking the largest gain since July 2025 [1] - Upcoming data releases on March 6 will include non-farm payrolls, unemployment, and retail sales [1] Group 2: Treasury Yields Overview - Short-term Treasury yields did not experience an increase [2] - The 10-year Treasury yield rose by 2 basis points to 4.079%, while the 2-year yield increased by 1 basis point to 3.514% [7] - The 1-year Treasury yield saw a minor rise of 0.005% to 3.559%, with the 6-month, 3-month, and 1-month yields remaining unchanged [7] Group 3: Stablecoins and Treasury Bills - Stablecoins are significant purchasers of Treasury bills, aiming to maintain value stability by being pegged to fiat currencies like the U.S. dollar [4] - The T-bill holdings of USD-pegged stablecoins reached $153 billion in December 2025, surpassing those of several leading countries [6] - The GENIUS Act mandates stablecoin issuers to back their digital currencies with high-quality liquid assets, primarily T-bills [5]