Oil prices fall on de-escalation hopes in US-Iran conflict
Oil prices dropped 4% amid signs of reduced US-Iran tensions, pushing Treasury yields and risk sentiment lower.
Oil prices fell 4% as hopes grew for de-escalation in the US-Iran conflict. The decline drove US Treasury yields lower. Softer US economic data, including weaker consumer confidence and a sharp fall in new home sales, reinforced the downward pressure on yields.
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The drop in oil and rates improved risk sentiment
Oil prices fall 4% on de-escalation hopes for the US-Iran conflict. This drove US Treasury yields lower. Weaker second-tier US data reinforced the move lower in yields, including softer consumer confidence and a sharp fall in new home sales