Bond Selloff Stalls on Report of Progress in US-Iran Talks

Treasuries ticked higher in early US trading, stalling a global bond selloff that had sent yields to multiyear highs, as investors saw signs that the US and Iran were making progress toward a deal.

Yields on US bonds dipped as much as three basis points Monday after Iran’s semi-official Tasnim reported that Washington proposed a temporary waiver on Iran oil sanctions until the final agreement, citing a source close to the negotiation team.