WASHINGTON (dpa-AFX) - After moving sharply lower over the past two sessions, treasuries regained some ground during trading on Thursday.
Bond prices moved steadily higher over the course of the day before closing firmly positive. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, fell 3.0 basis points to 4.539 percent.
The decrease came after the ten-year yield jumped to its highest closing level in well over a month in the previous session.
The rebound by treasuries came as the price of crude oil futures pulled back sharply following a two-day surge, with U.S. crude oil futures tumbling by more than 2 percent.
Oil prices gave back ground despite the renewed exchange of attacks between the U.S. and Iran, as traders remain optimistic that a full-blown war can be avoided.
The pullback was partly attributed to President Donald Trump's claim that Iran wants to 'make a deal so badly,' although that is in line with his typical rhetoric.
Trump's comment came after U.S. Central Command said forces attacked about 90 military targets in an effort to further degrade Iran's ability to attack commercial shipping in the Strait of Hormuz.
'This is in retribution for yesterday's bombing of ships by Iran. If it happens again, it will get much worse!' Trump said in a post on Truth Social.
Iran reportedly responded to the latest round of U.S. airstrikes with attacks targeting Bahrain, Kuwait and Qatar.
In U.S. economic news, the Labor Department released a report unexpectedly showing a modest decrease in first-time claims for U.S. unemployment benefits in the week ended July 4th.
The report said initial jobless claims edged down to 215,000, a decrease of 2,000 from the previous week's revised level of 217,000.
Economists had expected jobless claims to rise to 219,000 from the 215,000 originally reported for the previous week.
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