Global bond yields and the dollar both fell on the 6th (local time) as expectations for easing tensions in the Middle East spread. Axios reported that the United States and Iran are close to agreeing on a one-page memorandum of understanding (MOU) to end the war, and oil prices sharply dropped immediately afterward. In this regard, Bas Kooijman of DHF Capital, a Dutch asset management firm, analyzed, "Falling oil prices can alleviate inflation concerns and lead to a decline in US Treasury yields." The US 10-year Treasury yield continued its decline, falling 6.4bp to 4.351%, while the German 10-year Treasury yield fell 8.5bp to 2.991%, and the UK 10-year Treasury yield dropped 11bp to 4.958%.
