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Mediators say US and Iran may be near a revived deal
If the agreement revives a previously failed memorandum, it could reduce worries about Strait of Hormuz energy disruption and sway global risk and oil prices, with Treasury yields lower.
Mediators involved in the Middle East conflict believe the United States and Iran are nearing an agreement that would revive a previously failed memorandum of understanding, Forexlive reports.
The outlet said a breakthrough would likely be viewed positively by global markets by easing concerns about potential energy supply disruptions through the Strait of Hormuz. It added that such an outcome could weigh on crude oil prices while supporting risk assets if investors see the deal as lowering the risk of a wider regional conflict.
In markets, Forexlive noted Treasury yields were lower, with the two-year yield down 5.8 basis points to 4.264% and the 10-year yield down 4.69 basis points to 4.594%.
Forexlive also pointed out the Federal Reserve is meeting today and will announce its rate decision tomorrow, with the odds of a hike returning below 30% after previously trading near 40% in the prior week.
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