Trump rejects Iran 7-day ceasefire; US yields hit multi-year highs as markets sell off
President Trump rejected Tehran's 7-day ceasefire proposal to resume Strait of Hormuz traffic, escalating US-Iran tensions. Concurrently, US 10- and 30-year Treasury yields hit multi-year highs, and global markets came under selling pressure. The rejection removes a near-term de-escalation path, compounding risk-off sentiment already driven by rising long-end yields.
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US Rejects Iran Diplomacy, Strait of Hormuz Blockade Continues
US President Trump has rejected multiple Iranian diplomatic overtures, including proposals to reopen the Strait of Hormuz and a 7-day ceasefire, opting instead for continued sanctions and maintaining military options. This rejection has led to a significant surge in global oil prices and increased geopolitical risk, with Iran stating its readiness for both war and diplomacy. The immediate future of US-Iran relations remains highly uncertain, with a clear path to de-escalation currently absent.