WASHINGTON (dpa-AFX) - After moving significantly higher over the past few sessions, treasuries gave back some ground during trading on Wednesday.
Bond prices regained some ground going into the end of the day but remained in negative territory. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, rose 1.8 basis points to 4.622 percent.
The ten-year yield rebounded after closing lower for three straight sessions but remains well off Thursday's highs, marked the highest levels since early January 2025.
The pullback by treasuries came amid a substantial rebound by crude oil prices, with U.S. crude oil futures soaring by more than 6 percent after plummeting by 14 percent over the three previous sessions.
Crude oil prices are surging amid concerns about another re-escalation of the conflict between the U.S. and Iran after attacks were paused for several days.
U.S. Central Command said in a post on X that Iran launched multiple ballistic missiles in an attempted surprise attack on U.S. forces based in the Middle East on Tuesday. The missiles were successfully intercepted.
In a subsequent statement, Centcom said U.S. and Saudi Arabian forces conducted precision strikes in Iraq against Iran-aligned terrorists that the Islamic Revolutionary Guard Corps directed to attack U.S. forces and Saudi energy infrastructure.
U.S. and Saudi fighter aircraft struck multiple terrorist logistics and weapons sites across eastern Iraq in a strong response to over 30 IRGC-directed aerial drone attacks in the last 72 hours, Centcom said.
In response to the surprise attacks on U.S. forces in Jordan, President Donald Trump told a Fox News reporter the U.S. will be hitting Iran hard, adding, 'They're going to get a beating.'
Treasuries regained some ground in late-day trading after the Federal Reserve announced its decision to keep interest rates unchanged. While most expected the Fed to leave rates unchanged, there was some concern about a surprise rate hike.
The Fed said it decided to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 percent, keeping rates unchanged for the fifth consecutive meeting.
The vote to leave rates unchanged was not unanimous, however, with Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari and Dallas Fed President Lorie Logan preferring to raise rates by a quarter point.
In light of Fed Chairman Kevin Warsh's new approach, the Fed's accompanying statement did not provide any forward guidance about the outlook for rates.
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