Bond traders began the week pricing in no Federal Reserve rate cuts over the
next year, with US Treasury market steady ahead of Donald Trump’s deadline for
Iran to reopen the Strait of Hormuz.
Strong labor data erased easing bets, keeping two-year yields near 3.86% and
10-year yields around 4.34%, while the dollar fell. Geopolitical risks continue
to outweigh fundamentals, analysts said.
The Institute for Supply Management services report had limited impact.
Investors remain focused on Iran developments, with Brent crude near $109 a
barrel.
