U.S. Treasury futures prices retreated sharply from their intraday highs after former President Donald Trump stated that the United States would strike Iran "very hard tonight." Concurrently, a narrowing of losses in crude oil prices also exerted downward pressure on U.S. government bond prices.
While Trump's remarks prompted a rebound in Treasury yields from their session lows, the overall yield curve still declined by approximately 1 to 2.5 basis points.
WTI crude oil futures reversed earlier losses, trading approximately 1% higher.
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