U.S. Treasuries higher start after a quiet night. President Trump repeated yesterday that the Iran war will be ended quickly and that Iran is eager to make a deal. There were some reports of additional tankers making it through the Strait of Hormuz, giving a small boost to sentiment.
Crude oil is slipping toward $102/bbl, thanks to some overnight pressure on price and a shift in the front month contract to July. EU trade negotiator Zovko said that a deal has been made with the U.S. to avoid higher tariffs.
U.S. Dollar Index is flat at 99.33.
Today’s session will feature a $16 bln 20-yr bond auction at 13:00 ET.
Yields
2-yr: -3 bps to 4.09%
3-yr: -3 bps to 4.18%
5-yr: -3 bps to 4.30%
10-yr: -3 bps to 4.64%
30-yr: -1 bp to 5.17%