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U.S. government debt prices were higher Wednesday morning after Iran fired missiles at U.S. forces in Iraq, sparking fears of a widening conflict in the Middle East.
At 2:10 a.m. ET, the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 1.7916%, while the yield on the 30-year Treasury bond was also lower at around 2.2736%.
Iran launched more than a dozen ballistic missiles against multiple bases housing U.S. troops in Iraq in the early hours of Wednesday morning, according to Pentagon officials. It was not immediately clear whether any U.S. service members had been hurt.
The strikes came just hours after the funeral of Qasem Soleimani. The slain Iranian military commander was killed by a U.S. drone at Baghdad International Airport late last week, ratcheting up already deteriorating tensions between Iran and the U.S.
Iran has previously said the White House made a “grave mistake” in giving the order to kill Soleimani, with the Islamic Republic’s supreme leader Ali Khamenei vowing to deliver “severe revenge” to those responsible.
President Donald Trump responded to Wednesday morning’s attacks on Twitter, saying: “All is well!”
“Missiles launched from Iran at two military bases located in Iraq. Assessment of casualties & damages taking place now. So far, so good! We have the most powerful and well equipped military anywhere in the world, by far! I will be making a statement tomorrow morning.”
On the data front, ADP employment figures for December will be released at 8:30 a.m. ET, with consumer credit data for November set to follow slightly later in the session.
The U.S. Treasury is set to auction $24 billion in nine-year and 10-month notes on Wednesday.