Oil Prices Climb, US Treasuries Fall as Trump Says No Need for Iran Deal

Deep News11-12 21:46

After Donald Trump stated there was no need to reach an agreement with Iran, US Treasury futures dropped to their intraday lows, with yields across all maturities breaking above Tuesday's highs.

Crude oil futures jumped, which also helped push US Treasury yields higher.

US Treasury yields rose across the board by 3 to 7 basis points, led by gains in short-end and belly-of-the-curve yields, while the 2-year/10-year and 5-year/30-year spreads narrowed by 2 basis points and 4 basis points, respectively.

The market further increased its rate hike bets, now pricing in about 29 basis points of tightening for the December meeting and a combined 46 basis points of hikes across the next two meetings through January.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment