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The yield on the US 10-year Treasury note was little changed around 4.25% on Monday, easing from modest gains in Asian trading and hovering near one-month lows, as investors weighed renewed setbacks in peace negotiations. On Sunday, the US announced it had seized an Iranian cargo ship attempting to breach its naval blockade, while Iran vowed to retaliate, intensifying fears of a fresh escalation in hostilities.
Uncertainty also persists over whether US and Iranian officials will meet before a 14-day ceasefire expires on Tuesday, with Tehran signaling it will not take part in a second round of talks. At the same time, oil prices inched higher and ongoing inflation concerns continued to keep borrowing costs elevated.
Investors are also focused on Tuesday’s Senate confirmation hearing for Kevin Warsh as the next Federal Reserve Chair. He is widely viewed as more dovish than current Chair Jerome Powell, whose term is set to expire in May.
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