Treasury Yields Drop as Oil Prices Fall Ahead of Trump-Xi Meeting
U.S. Treasury yields declined on Tuesday amid anticipation for a key diplomatic meeting between President Donald Trump and Chinese President Xi Jinping, scheduled in Washington later this week. The yield on the 10-year Treasury fell to 4.93% after rising above 5% earlier in the week. Oil prices also dropped as reports indicated Iran's willingness to reopen the Strait of Hormuz if U.S. sanctions are lifted and military pressure eased, easing concerns about inflationary pressures. Tech stocks saw modest gains following a strong one-day rally that pushed AMD’s market valuation past $1 trillion. Apple shares rose over 1%, while Meta continued its upward trend due to positive reactions to its new AI agent Muse. Bitcoin remained above $85,000 per token and ether approached record levels since January as renewed interest in cryptocurrencies led some analysts to declare the 'crypto winter' is ending.
Topics: commodities oil prices stock market Treasury yields U.S.-China relations