U.S. Treasuries a little lower start before recovering the bulk of their losses as the night went on.
There were reports of some renewed military action against Iran, which has weighed on sentiment while lifting the price of WTI crude back above $91/bbl. Crude oil is currently up $2.66 (+3.0%) to $91.34 per barrel, which has pushed Treasury yields modestly higher across the curve.
The fresh U.S. strikes against Iran and reports that Iran retaliated against a U.S. airbase in response, according to NBC News.
There were no big surprises in data released overnight and the Bank of Korea’s policy meeting concluded with no rate change (2.50%).
However, yields and oil prices are both firmly lower for the week.
The U.S. Dollar Index is up 0.1% at 99.34.
Yields After todays data rush:
2-yr: +1 bp to 4.04%
3-yr: +1 bp to 4.09%
5-yr: +1 bp to 4.18%
10-yr: UNCH at 4.48%
30-yr: -1 bp to 5.01%