10-Year Treasury Yield Falls 8 Basis Points as Trump Calls Off Iran Strikes
Updated
Updated · CNBC · Jun 11
10-Year Treasury Yield Falls 8 Basis Points as Trump Calls Off Iran Strikes
3 articles · Updated · CNBC · Jun 11
Summary
The 10-year Treasury yield dropped more than 8 basis points to 4.453% after Trump said he had canceled strikes on Iran planned for Thursday night.
That risk-off reversal spread across markets: the 2-year yield fell over 7 basis points to 4.054%, the 30-year dropped past 7 basis points to 4.95%, and WTI crude settled down 2.58% at $87.71.
Trump reversed an earlier warning that the U.S. would hit Iran "VERY HARD TONIGHT," saying final points of a deal had been approved, though a U.S. naval blockade of Iranian ports in the Gulf of Oman would stay in place.
A hot May producer-price report still complicated the bond rally, with headline PPI up 1.1% on the month and 6.5% from a year earlier, reinforcing expectations the Federal Reserve will keep rates high and lifting December hike odds.
Is the massive SpaceX IPO a sign of tech market strength or a risky distraction from simmering geopolitical threats?
With a naval blockade now in place, is the U.S.-Iran conflict de-escalating or just entering a new phase of economic warfare?
Strait of Hormuz Disruptions in 2026: How the U.S.-Iran Conflict Sparked Global Market Volatility and Economic Risk
Overview
On March 23, 2026, global financial markets reacted sharply after U.S. President Donald Trump unexpectedly postponed military strikes on Iran’s energy infrastructure. This sudden de-escalation eased geopolitical tensions, leading to a rally in U.S. stock futures, a weaker dollar, and a significant drop in oil prices. The market’s immediate response reflected hopes for reduced conflict, but the impact varied across sectors, with oil company shares falling. The report shows how this headline-driven relief was fragile, as ongoing instability in the region continued to threaten energy supplies, global trade, and economic growth, keeping markets on edge.