The US Treasuries (UST) market

US treasury yields rose across the board by 3.5 to 4.5 basis points (bps), following the de-escalation in geopolitical tensions between the US and Iran. Investors’ concerns eased after Trump said Iran appeared to be “standing down” following Teheran’s attack on the Ain al-asad airbase. Besides, the selling pressure was further driven following reports that China has confirmed plans to sign a preliminary trade deal with the US early next week. Mild buying momentum was present at the end of the week due to strong demand for government bonds at a 30-year debt auction. As at Friday, the two-, five-, 10- and 30-year benchmark UST yields stood at 1.58%, 1.66%, 1.86% and 2.33%, respectively.