U.S. government debt prices were higher Monday morning as market players monitor growing tensions between the United States and Iran.
Market players are following geopolitics, in particular escalating tensions between Iran and the U.S. Over the weekend, President Trump announced that the U.S. will impose "major" additional sanctions on Iran on Monday but Iran dismissed the threat as "just propaganda."
On the back of these events, oil prices moved higher with Brent trading at $65.50 a barrel and WTI selling at $57.8 a barrel. An analyst at research firm TS Lombard forecasts oil futures surging above $100 a barrel in case of a full-scale U.S.-Iran conflict, Dow Jones reported.Meanwhile, the Treasury is due to auction $72 billion in 13 and 26-week bills.
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