US Treasuries Slide as Oil Swings on Conflicting Iran Reports

Treasuries resumed their losses on Tuesday as volatile swings in oil, driven by conflicting reports about developments in Iran, rattled already fragile markets.

Bonds were dragged lower as oil prices gyrated when the White House said the US Navy had not escorted a tanker through the Strait of Hormuz, contradicting an earlier report. That pushed Treasury yields as much as six basis points higher, with the 10-year note trading around 4.14%.