Oil Crashes 9% as Trump and Vance Blame Iran War for Midterm Rout, 10s -3bp

Wed 04 Nov 2026

Treasuries (close 2026-11-02): 2s 4.59% (+3.0bp), 10s 4.91% (-3.0bp), 30s 5.28% (-3.0bp).

Tape (close 2026-11-02): VIX 20.83, 2s10s +34bp.

Narrative: Oil Crashes 9% as Trump and Vance Blame Iran War for Midterm Rout

What mattered:

Oil Crashes 9% as Trump and Vance Blame Iran War for Midterm Rout
Fed Wins Protection With Democrats Taking Control of the Senate
Treasury yields fall after Democrats win House and Senate majorities
S&P Global Services PMI: 56.1
US midterms 2026 results live: Vance blames Iran war for crushing Republican defeat

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