Treasuries Slip as Renewed Ceasefire Tensions Lift Oil Prices

The Treasuries market steadied at the start of the week, with bond investors alert for catalysts tied to peace talks to end the war in the Middle East and a hearing to potentially confirm Kevin Warsh as the next chair of the Federal Reserve.

Yields were nearly unchanged on the day on Monday with oil higher, with two-year’s trading at about 3.72% after last week touching the lowest level in a month. Traders were betting on about a 60% chance that the Fed will lower US interest rates by the end of the year.