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USD and Treasury yields rise as Iran headlines lift stocks off lows

The 10-year Treasury yield ended near its session high while the U.S. sold $44 billion of 7-year notes at a 5.085% yield, underscoring firm rate expectations.

Reported · Written up by our desk · Major Pairs

A foreign exchange and rates news wrap from Forexlive said the U.S. dollar and Treasury yields climbed as Iran-related headlines boosted stocks off their session lows. The report also said talk of a phased Hormuz deal helped equities recover from the weaker turn.

Forexlive reported that oil rebounded after a sharp drop and that the 10-year Treasury yield finished near its session high. The same wrap noted that the U.S. Treasury sold $44 billion of 7-year notes at a high yield of 5.085%.

The wrap also said the report included discussion of U.S. and Iran talks, with Iran President Masoud Pezeshkian wanting a deal with the U.S. before the midterm elections, according to NBC. It added that U.S. and Iran discussed phasing a deal to reopen Hormuz and end the U.S. blockade, while bitcoin traded lower but held support near the high of a swing range target.

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