Global Bond Yields, Dollar Fall on Middle East Ceasefire Hopes

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Global bond yields and the U.S. dollar fell today as hopes for easing Middle East tensions grew, with the U.S. 10-year Treasury yield down 6.4 basis points to 4.351%. Axios reported that the United States and Iran are nearing a one-page memorandum of understanding to end the war, and oil prices dropped sharply. Germany’s 10-year bond yield fell 8.5 basis points to 2.991%, while the UK’s 10-year yield dropped 11 basis points to 4.958%.

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