Treasuries Gain With Stocks as Oil Falls in Wake of PPI Data

Treasuries rose as oil benchmarks retreated toward last week’s lows, lessening pressure on future inflation readings that have become the bond market’s main driver.

The gains were limited as oil prices, guided by developments in the US war on Iran, remain elevated by historical standards. The Treasury market had muted reaction earlier Tuesday to March producer price index data showing smaller increases than economists estimated.