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Yields rise after Iran ceasefire headlines unwind amid Saudi blockade

At 7:30am, a proposed 10-day ceasefire briefly pushed yields and fuel prices lower, but the move reversed within 30 minutes after the Houthis declared a naval blockade against Saudi Arabia.

Reported · Written up by our desk · Government Bonds

Mortgage News Daily said bond trading opened without major scheduled data, leaving prices to react to developments tied to the Iran war and shifting risk sentiment as stocks stabilized.

The outlet reported that a proposed 10-day ceasefire headline drove yields and fuel prices down quickly but not excessively, with 10-year yields starting out several basis points higher after the move reversed.

Mortgage News Daily also noted the Houthis declared a naval blockade against Saudi Arabia, and that mortgage-backed securities fell about an eighth.

The outlet said despite the early weakness, there is still room for yields to face a supportive ceiling between current levels and recent highs, or potentially rally toward the lower end of a 9-month uptrend channel.

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