Lates News

White House officials said that President Trump met with oil company executives on Tuesday to discuss the possibility of a blockade of the Strait of Hormuz lasting for several months if necessary. The already under pressure US Treasury bond prices fell upon hearing this news. Brent crude oil continued to rise in response to this news, with intraday gains at one point expanding to 5%, further affecting the bond market. Commodity Trading Advisors (CTAs) covered their short positions for profits after the data was released and then resumed selling. As support levels for yield curve maturities were broken, algorithmic trading began to dominate.