Iran Halts Negotiations with US, Causing Oil Prices and Bond Yields to Surge
Iran has ceased negotiations with the United States, leading to a significant increase in oil prices and bond yields. This decision comes as Iran plans to block traffic through the Strait of Hormuz in response to Israeli attacks on Hezbollah in Lebanon. Brent crude oil prices rose by nearly 7% to $97 per barrel, while West Texas Intermediate crude surged 8% to $94 per barrel. The 10-year US Treasury yield increased by five basis points to 4.5%, and the 30-year bond yield rose by two basis points to 5.02%. The cessation of talks has dispelled hopes of a peace deal between the US and Iran, with tensions escalating due to military actions by both nations. 
