Bond Selloff Fades, US-Iran Said to be Exploring Phased Deal, Trump-Xi Summit

US Treasury prices stabilized after a recent selloff had pushed global yields to their highest levels in multiple decades. Oil prices declined as Bloomberg reported that US and Iran negotiators were exploring a phased agreement related to the Strait of Hormuz. President Trump and Chinese President Xi Jinping held a summit that produced limited substantive policy announcements.

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