US Treasuries rose as President Donald Trump announced that Iranian officials were seeking terms to end the ongoing conflict, which led to a pullback in oil prices. The yield on the benchmark 10-year Treasury note fell to 4.30%, down from earlier highs of 4.36%. Oil prices for West Texas Intermediate crude settled near $99 a barrel, after reaching session highs above $105. This fluctuation in oil prices is significant as it reflects ongoing concerns about inflation, especially following a consumer price report that showed the largest monthly increase since 2022. Market analysts, including Dhiraj Narula from HSBC Securities, noted that the bond market remains cautious regarding potential Federal Reserve interest rate cuts, especially with rising energy costs. Currently, traders are pricing in about a 28% chance of a quarter-point rate cut by the end of the year, with expectations for further easing in 2027. Overall, the situation remains fluid as geopolitical tensions continue to influence market dynamics.