Pakistan backs US‑Iran deadline, oil falls
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- President Donald Trump said he would suspend U.S. bombing and attacks on Iran for two weeks if Tehran reopened the Strait of Hormuz.
- Iran’s foreign minister said Iran’s armed forces would halt operations and allow safe passage through the strait once the U.S. stopped its attacks.
- Brent crude fell 15% to $87.77 per barrel after the ceasefire announcement.
- U.S. Treasury bonds surged in early Asian trading, with the two‑year yield dropping to 3.73% and the ten‑year yield falling to 4.26%.
- Japanese stocks jumped 4.75% in the first 15 minutes of trading.
- Pakistan asked Trump to extend his 8 pm ET deadline for bombing Iranian civilian infrastructure and urged Iran to reopen the waterway.
Why it matters: Bond investors benefit as two‑year yields dip to 3.73% and ten‑year yields to 4.26%, boosting bond prices, while oil exporters face tighter margins from a 15% Brent price drop. The ceasefire eases geopolitical risk, driving capital into safe‑haven assets and prompting a rally in Japanese equities.
