NewsHK
The geopolitical backdrop shifted on Friday, and the bond market barely registered it.
Treasury yields were relatively unchanged on the session after Washington said its naval blockade of Iranian ports could continue indefinitely, a statement that also carried threats of further economic sanctions against Tehran.
For rate watchers, the stillness in yields is a signal in its own right.
A blockade framed as open-ended, without a stated resolution date, extends the uncertainty horizon without giving the market a clear trigger to price.
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