Treasury yields slide after Memorial Day break as traders weigh Iran peace prospects
Treasury yields have decreased following the Memorial Day break, aligning with significant declines in European sovereign yields. Investors are considering mixed signals regarding U.S.-Iran peace talks, especially after U.S. military actions in Iran. Economic data, including the PCE Price Index, is expected to be closely watched by investors later this week.
- ▪Yields fell across the board after the Memorial Day break.
- ▪U.S. forces conducted self-defense strikes in southern Iran on Tuesday.
- ▪Iran's Islamic Revolutionary Guard Corps threatened retaliation against U.S. airspace violations.
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Yields fell across the board, catching up with large declines seen in European sovereign yields on Monday. However, European bonds gave some gains on Tuesday as investors mull mixed signals around the status of U.S.-Iran peace talks. U.S. forces carried out what Central Command described as "self defense" strikes in southern Iran early Tuesday. Secretary of State Marco Rubio, who is in India, said that the Strait of Hormuz will ultimately have to be opened "one way or the other."Iran's Islamic Revolutionary Guard Corps on Tuesday said it would retaliate against violations of the ongoing ceasefire after it identified and engaged U.S.
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