Treasuries Weaken Before Warsh Testifies for Fed Chair Role

A name plate for Kevin Warsh prior to a Senate confirmation hearing in Washington on April 21.Photographer: Graeme Sloan/Bloomberg

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By Michael MacKenzie and Carter Johnson

April 21, 2026 at 1:57 PM UTC

Updated on

April 21, 2026 at 8:55 PM UTC

Treasuries pared losses as President Donald Trump said he was extending a ceasefire with Iran after peace talks between the countries aimed at ending the conflict were scrapped.

Yields retreated from session highs late Tuesday after Trump said he would extend the truce but leave in place a blockade on the Strait of Hormuz. The announcement came shortly before a two-week ceasefire was set to expire, providing some relief for traders.