U.S. 4-month Bond / Govt auction as of May 27 — percentage allocated at the awarded yield 25.59%; prior 99.6%.

On Wednesday, commercial traffic through the Strait of Hormuz plunged, with only a handful of Iran-linked vessels transiting, underscoring erratic passage through one of the world's most important energy chokepoints. Bloomberg-compiled vessel-tracking data showed only two vessels entered the Persian Gulf that day, while a fuel-oil tanker appeared to pause while exiting. The slowdown followed a day in which two international ultra-large oil tankers exited the waterway, producing a brief surge in outbound energy shipments. The volatility comes as markets await the outcome of US-Iran talks aimed at ending a conflict that had nearly closed the Strait. Earlier, Iran's state TV reported a draft memorandum of understanding (MoU) and said maritime shipping could normalize within a month; the US denied that report.

Iran Public Rejects U.S. Credibility After Strike In Southern Iran; Cites U.S. JCPOA Exit, Warns Strait Of Hormuz Gives Iran Strategic Leverage