The $31 trillion Treasuries market has seen a stall in its rally following the release of economic data indicating steady hiring and consumer spending, which countered the optimism surrounding a potential end to the Iran conflict. Treasury yields remained stable on Wednesday, following a brief decline earlier in the session as Brent crude oil prices dipped below $100 a barrel. Jan Nevruzi, an interest-rate strategist at TD Securities, noted that while there was a relief rally due to developments in the Middle East, stronger-than-expected economic data supported higher yields. February retail sales and private-sector hiring figures exceeded economist forecasts, suggesting a firmer economic outlook. St. Louis Fed President Alberto Musalem highlighted rising risks to both inflation and employment, indicating that the Fed may need to adjust interest rates based on economic developments. Bloomberg Intelligence strategists have revised their forecast for the US two-year yield to 3.4% by year-end, anticipating that the Fed will hold off on rate cuts until late 2026. The bond market has been under pressure following a 1.7% decline in March, attributed to inflation concerns linked to rising oil prices. The market is now pricing in expectations for about seven basis points of easing by the end of the year, a shift from previous expectations of a rate hike.