WASHINGTON (dpa-AFX) - Treasuries showed a lack of direction over the course of the trading session on Tuesday before eventually ending the day slightly lower.
Bond prices fluctuated over the course of the session after seeing early strength. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by less than a basis point to 4.343 percent.
The choppy trading on the day came as trader kept a close eye on developments in the Middle East as an 8 pm ET deadline set by U.S. President Donald Trump approaches.
Trump has threatened to attack Iran's power plants and bridges if Tehran fails to reach a deal and reopen the Strait of Hormuz, a crucial global energy route.
Continuing to ramp up his rhetoric, Trump warned in a recent post on Truth Social, 'A whole civilization will die tonight, never to be brought back again. I don't want that to happen, but it probably will.'
The president claimed that a 'different, smarter, and less radicalized' regime is now in charge of Iran and suggested something revolutionarily wonderful can happen.
'WHO KNOWS?' Trump posted, adding to the uncertainty. 'We will find out tonight, one of the most important moments in the long and complex history of the World.'
In U.S. economic news, the Commerce Department released a report showing new orders for U.S. manufactured durable goods slumped by much more than expected in the month of February.
The Commerce Department said durable goods orders tumbled by 1.4 percent in February after falling by a revised 0.5 percent in January.
Economists had expected durable goods orders to decrease by 0.5 percent compared to the unchanged reading that had been reported for the previous month.
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