(March 31) : Treasuries bounced after a slide fueled by concerns over the economic fallout of the war in Iran, with traders resuming bets on a rate cut in 2026 as Federal Reserve Chair Jerome Powell eased fears about any imminent impacts of higher energy prices on inflation.

The bond market trimmed what’s expected to be its worst monthly selloff since 2024 as Powell said longer-term inflation expectations appear to be in check, with traders erasing wagers on a rate hike. The S&P 500 fell 0.4% as a rout in chipmakers offset gains in most major groups. US oil topped US$100.

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