WASHINGTON (dpa-AFX) - After coming under pressure early in the session, treasuries regained ground over the course of the trading day on Monday.
Bond prices climbed well off their early lows, ending the day roughly flat. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, crept up by less than a basis point to 4.250 percent after reaching a high of 4.274 percent.
With the slight uptick on the day, the ten-year yield regained ground after ending last Friday's trading at its lowest closing level in a month.
The early pullback by treasuries came amid concerns about the re-escalation of tensions between the U.S. and Iran following the latest developments in the Middle East.
Over the weekend, Iran once again closed the Strait of Hormuz and purportedly fired on tankers in the vital waterway, blaming the U.S. blockade of Iranian ports for the moves.
President Donald Trump called Iran's actions a 'total violation' of the ceasefire agreement between the U.S. and Iran, which is currently set to expire this week.
In a post on Truth Social, Trump also said he is sending representatives to Islamabad, Pakistan, for talks with Iran, although Tehran has denied there are plans for a second round of negotiations.
Trump once again threatened to knock out every single power plant and bridge in Iran if the country refuses to make a deal.
The latest threats combined with news that U.S. forces have seized an Iranian-flagged cargo ship in the Gulf of Oman, have contributed to a significant rebound by the price of crude oil.
Selling pressure waned over the course of the session, however, as crude oil prices pulled back off their highs above $90 a barrel amid persistent optimism about an eventual U.S.-Iran deal.
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