US Treasuries Rise as Oil Retreats From Multiyear High

Treasuries mostly rose as oil prices near multiyear highs kept alive the prospect of a Federal Reserve interest-rate cut this year to offset the economic consequences of the US war in Iran.

Though 30-year bonds erased their gains in the minutes around the month-end index rebalancing at 4 p.m. New York time, Treasuries broadly pared their biggest monthly loss in more than a year. A retreat by oil prices helped the bond market, sending yields across tenors to session lows shortly after midday in New York following reports Iran’s president discussed terms for ending the war.