US Treasury yields hold steady as falling oil prices offset uncertainty from Middle East conflict
- U.S. Treasury yields traded steadily as the impact of ongoing uncertainty from the Middle East conflict was offset by oil prices retreating after a sharp surge in early Thursday trading. The front-month Brent crude oil futures were last quoted at $111.86 per barrel, up from the previous trading day, but still well below the four-year high of above $126 per barrel reached during Thursday’s early session.
- Analysts at Deutsche Bank stated in a report that U.S. Treasury yields fell on Thursday, mainly because declining oil prices eased concerns about inflation. Trading was light, as European markets were closed for the May 1st holiday.
- The yield on the ten-year U.S. Treasury was virtually unchanged at 4.386%, well below the one-month high of 4.434% reached on Wednesday.
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