US Treasury Bonds Erase Losses; Market Sentiment Turns Positive as US-Iran Agreement Approaches

US Treasury yields erased their losses, and the declines in German and UK government bonds also narrowed. The market is increasingly optimistic that the US can reach an agreement with Iran before the deadline set by Trump to reopen the Strait of Hormuz. The yield on US 10-year Treasury bond remained steady at 4.33%; the yield on German government bonds rose by 1 basis point to 3.0%, and the yield on UK government bonds rose by 1 basis point to 4.84%.