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U.S. Treasury supply pressure reverses, Iranian draft sparks risk-off reversal, Hormuz navigation agreement enters 60-day countdown

U.S. Treasury supply pressure reverses, Iranian draft sparks risk-off reversal, Hormuz navigation agreement enters 60-day countdown

汇通财经汇通财经2026/05/27 13:22
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```htmlUS Treasuries retreated from overnight highs on Wednesday, giving back most of their intraday gains during the London and New York trading sessions, mainly due to dealers preparing for today's $70 billion 5-year Treasury auction. Subsequently, Iranian state television reported a preliminary informal framework draft for a memorandum of understanding with the US. After the news broke, yields reversed lower. The draft includes US military withdrawal from areas surrounding Iran and the lifting of the naval blockade, with Iran pledging to restore commercial navigation in the Strait of Hormuz to pre-war levels within one month. Strait traffic management will be handled jointly by Iran and Oman, and after reaching a final agreement within 60 days, it will be formally approved by a binding United Nations Security Council resolution. Iranian state television also noted that the Islamabad memorandum framework has not been finalized yet, and Iran will not take any steps until it receives "concrete verification."```
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