April 20, 2026
United States:
Treasuries Slip as Renewed Ceasefire Tensions Lift Oil Prices
Treasuries retreated slightly on Monday as the US seizure of an Iranian ship dampened hopes of de-escalation in the Middle East conflict and sent oil prices higher.
Yields on US 10-year Treasuries edged up two basis points at 4.27%, as Brent crude futures rose 6% after the seizure of the vessel in the Strait of Hormuz. Earlier, Iran halted traffic through the waterway, less than 24 hours after saying ships could pass. The events raise doubts that the ceasefire which expires on Tuesday will be extended.
Europe:
EU to Step Up Measures to Address Risk of Jet Fuel Shortfall
The European Union will propose measures to “optimize” jet fuel distribution among member states and help source alternative supplies, with energy flows through the Strait of Hormuz still at a standstill.
The European Commission, the bloc’s executive arm, will announce Wednesday that it will propose these measures as early as next month, according to a draft document seen by Bloomberg.
Asia:
China’s Xi Urges Ceasefire, Full Hormuz Transit in Saudi Call
China President Xi Jinping called for an immediate ceasefire and the restoration of normal transit through the Strait of Hormuz, following a turbulent weekend in the Middle East that has clouded prospects for peace talks.
“China calls for an immediate and comprehensive ceasefire, supports all efforts to restore peace and insists disputes be resolved through political and diplomatic means,” Xi said in a phone call with Saudi Crown Prince Mohammed bin Salman on Monday, according to a statement from the Chinese foreign ministry.
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