(April 9): US Treasuries held steady after the Federal Reserve’s preferred inflation gauge showed elevated price pressures even before the US attack on Iran sent energy costs sharply higher. Interest-rate swaps continued to price in a roughly 25% chance of a quarter-point Fed rate cut by the end of 2026. Oil benchmarks partially rebounded on Thursday as the strait remained effectively closed and US and Iranian leaders alleged ceasefire violations. Oil prices have been a principal driver of bond markets globally over the past six weeks as investors weigh their potential to lift inflation but also to restrain economic growth. As oil prices mounted, those wagers were scrapped and a rate increase was briefly priced in.

Source: The Edge Markets April 09, 2026 14:29 UTC