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US Treasuries Rally as Falling Oil Boosts Rate-Cut Bets

Meghan Swiber, senior US rates strategist Bank of America Securities, and Ashok Bhatia, CIO and global head of fixed income at Neuberger, joins Katie Greifeld on "Bloomberg Real Yield." Treasuries jumped, sending yields to their lowest levels in a month, as easing Middle East tensions drove oil lower and pushed traders to price roughly even odds of a Federal Reserve rate cut this year.

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Bloomberg

Hormuz Strait Progress Likely to Reverse Without Breakthrough Says Bob McNally

Bob McNally, president and founder of Rapidan Energy Group, said that despite oil market optimism, he believes the Strait of Hormuz will close once again unless the US and Iran make major progress on a deal over the weekend. McNally said that his estimate is that it will take at least 3 to 4 months for the oil market and supply traffic to revert back to pre-war levels once there is a deal and that there are some oil fields that may be permanently closed.

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Bloomberg

Many Potential 'Spoilers' Remain in Complex US, Iran Deal, Says Natasha Hall

Natasha Hall, associate fellow at Chatham House, said that despite positive reaction to the announcements from the US and Iran, the ceasefire is very fragile and there are many complex details still to be worked out. Hall said that there are potential 'spoilers' that could emerge in negotiations as Iran considers nuclear restrictions and its newfound economic power via the Strait of Hormuz.

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