Treasuries Close In The Red But Well Off Early Lows

Treasuries closed the session in the red after an early rally, with prices rebounding but finishing lower. The benchmark 10-year note yield rose 2.4 basis points to 4.487 percent, after a high of 4.507 percent. The move followed uncertainty about the Middle East and mixed comments from President Trump on Iran, including claims that leaked terms had nothing to do with the written agreement. Market talk tied a possible U.S.–Iran memorandum of understanding to reopening the Strait of Hormuz without tolls and to sanctions relief based on compliance, with a Bloomberg report suggesting a sign-off could come at the G7, and Pakistan’s PM posting about a final text. Oil prices softened as optimism for peace weighed on crude, while Treasuries later pared losses; the article notes the views are those of the author and may not reflect Nasdaq, Inc.