Iran's IRGC navy: Two oil tankers exploded and caught fire after strik, 10s +5bp

Fri 13 Nov 2026

Treasuries: 2s 4.88% (+2.0bp), 10s 5.15% (+5.0bp), 30s 5.47% (+4.0bp).

Tape: VIX 18.7, 2s10s +24bp.

Narrative: Fed's Daly: In all likelihood we will need to raise rates.

What mattered:

• Iran's IRGC navy: Two oil tankers exploded and caught fire after striking naval mines while attempting to transit the Strait of Hormuz - State Media
• Fed turns hawkish as CPI beats and officials back further rate hikes
• Fed Set to Raise Interest Rates Next Month as Debate Moves to January
• Fed likely to need to raise rates amid worsening inflation: Daly
• Fed’s Daly says rates likely need to rise amid inflation concerns