US Treasuries Rise as Oil Retreats From Multiyear High
Key Points:
- U.S. Treasuries mostly rose as oil prices approached multiyear highs, supporting expectations of a Federal Reserve interest-rate cut to mitigate economic impacts from the U.S. war in Iran.
- Despite 30-year bonds losing earlier gains around the month-end index rebalancing, Treasuries overall reduced their largest monthly loss in over a year.
- A decline in oil prices after reports of Iran’s president discussing terms to end the war helped push bond yields to session lows across various maturities.