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Bond yields fall alongside oil prices on Iran peace hopes
The rally was linked to broad, non-specific hopeful headlines, and maintaining it would likely require supportive oil moves plus upcoming economic data.
Mortgage News Daily reports that bond yields and oil prices declined in tandem after hopeful headlines related to the Iran war.
The outlet said the market appeared ready to rally even though the headlines were not particularly specific or compelling.
It noted that August oil prices were positioned closer to the middle of their monthly range, while 10-year yields were nearer the low end of their range.
Mortgage News Daily added that sustaining any rebound would depend on continued cooperation from oil and follow-through from economic data.