Daily brief
Oil drops 7% as Iran signals openness to peace talks, 10s -7bp
Mon 02 Nov 2026
Treasuries (close 2026-10-29): 2s 4.61% (-6.0bp), 10s 4.98% (-7.0bp), 30s 5.32% (-5.0bp).
Tape (close 2026-10-29): VIX 19.42, 2s10s +38bp.
Narrative: Iran war live: Tehran warns of earth-shattering blow; drone targets Riyadh
What mattered:
- Oil drops 7% as Iran signals openness to peace talks
- ISM Manufacturing PMI: 55.5
- Vance: I feel good about prospects of Iran deal. We've made some progress, will see if can make some more.
- Treasuries See Further Upside Amid Nosedive By Crude Oil Prices
- Iran offers to open Strait of Hormuz on several conditions