Risk that higher energy costs will add to already elevated price pressures, delaying Federal Reserve rate cuts, is front of mind for investors in the $31 trillion Treasuries complex after talks ended without a peace agreement. Traders and strategists at Pacific Investment Management Co., Brandywine Global Investment Management, and Natixis North America are bracing for yields to remain elevated — and many are reluctant to make big shifts in their allocations until there is greater clarity on the inflation outlook.