US Treasury yields ease on Middle East energy cost concerns
Updated
Updated · CNBC · May 5
US Treasury yields ease on Middle East energy cost concerns
11 articles · Updated · CNBC · May 5
In early Tuesday trade, the 10-year yield fell 2 basis points to 4.4241%, the 2-year to 3.9357%, and the 30-year to 5.0074%.
Markets tracked skirmishes around the Strait of Hormuz and Iranian strikes on the UAE, while WTI crude dropped 2.6% to $103.63 despite fears the US-Iran ceasefire could unravel.
Investors also awaited March JOLTS data, forecast at 6.83 million openings, and April services PMI after March's reading slowed to 54, for clues on hiring and economic momentum.
As US borrowing surges while oil demand falls, which force will win the battle for control over interest rates?
With the UAE exiting OPEC amid the Hormuz crisis, is the era of cartel-controlled oil prices now over?
Could this energy crisis be the catalyst that permanently accelerates the global shift to renewable energy sources?