Treasuries Rally Stalls as Investors Await Trump’s Iran Speech

A rally in the $31 trillion Treasuries market stalled after economic data showed steady hiring and consumer spending on goods, offsetting the prospect of an end to the war in Iran that could pave the way for Federal Reserve interest-rate cuts.

Yields were little changed on Wednesday after trimming declines seen earlier in the session as Brent briefly fell below $100 a barrel. Treasury yields have tracked a war-related surge in oil prices for much of the past month because of their potential to stoke inflation and delay Fed rate cuts.