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U.S. Treasury yields were little changed on Wednesday after President Donald Trump announced an indefinite extension to the ceasefire with Iran.
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A decades-old law allows the president to wage war without congressional approval for 60 days, then limits his options for continuing. President Trump may seek to get around it.
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Three vessels came under fire in the Strait of Hormuz, after the U.S. and Iran failed to meet in Pakistan for talks to end the war and as President Trump extended the ceasefire but kept the blockade.
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Iran has attacked and seized two commercial ships near the Strait of Hormuz. This after President Trump announced an indefinite ceasefire in the war with Iran.
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President Donald Trump announced "major combat operations" against Iran on Feb. 28, with massive joint U.S.-Israeli strikes.
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President Trump has ridiculed President Barack Obama and the agreement, which he withdrew from during his first term. His critics say he could have avoided a war had he left it in place.
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