IRAN: Iran Says Preparing Plan for 'Legal Regime' of Strait
"*IRAN SAYS PREPARING PLAN FOR 'LEGAL REGIME' OF STRAIT: TASNIM" BBG "*STRAIT OF HORMUZ PLAN WILL B...
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FED: US TSY 17W AUCTION: NON-COMP BIDS $519 MLN FROM $69.000 BLN TOTAL
- US TSY 17W AUCTION: NON-COMP BIDS $519 MLN FROM $69.000 BLN TOTAL
BONDS: Core Yields Steadily Moving Higher, But Bulk Of Overnight Move Has Held
Core bond yields have steadily moved away from session lows over the last two hours, amid increasing risks around the durability of the US-Iran ceasefire agreement. There is a conflicting understanding around whether Lebanon is included in the touted agreement. That said, the bulk of overnight moves have stuck, suggesting markets remain cautiously optimistic that some form of ceasefire – and return of Strait of Hormuz flows – can be attained.
10-year Bund yields have moved back to 2.94% from 2.90% earlier, though remain almost 15bps below yesterday’s close. The curve still leans bull steeper, with 2s10s up 9bps to 45.5bps.
Estoxx50 futures remain up 4.8% today, with opening lows of 5797.00 untested for now.
IRAN: NYT: 10-point Peace Plan Noted By Trump Differs To Iranian Version
NYT: "A White House official says that the 10-point peace plan that Iran publicly released on Wednesday differs from the plan that Trump said was a “workable basis on which to negotiate.” The official declined to elaborate on the differences but said Karoline Leavitt, the White House press secretary, was expected to clarify at a 1 p.m. briefing.
