Oil Prices, Treasury Yields Fall On Trump's Five-Day Reprieve; S&P 500 Leaps

Oil prices tumbled and Treasury yields fell after President Donald Trump announced a five-day Iran war reprieve, but they retraced part of the drop after Iran denied taking part in any negotiations and Israel announced a new attack on Tehran. The S&P 500, which had been indicated sharply lower, rebounded solidly Monday morning, while the 10-year Treasury yield pulled back modestly from Friday's seven-month high. "I have instructed the Department of War to postpone any and all military strikes against Iranian power plants and energy infrastructure for a five day period, subject to the success of the ongoing meetings and discussions."