10-Year T-Note futures rallied as yields hit multi-week lows.

10-Year Treasury Note yields opened near unchanged before reversing lower amid improved peace talks in the Middle East and the reopening of the Strait of Hormuz. Yields touched 4.22% intraday, marking their lowest level since March 18, before closing at 4.24%, down 6 bps for both the session and the week. As yields dropped, 10-Year T-Note futures caught a bid. Looking at the CVOL index, volatility remained unchanged for the daily session but closed lower for the week. Looking ahead, the market awaits upcoming retail sales data, along with 20-Year and 5-Year TIPS auctions. Fed speakers have entered their blackout period ahead of the April FOMC meeting, shifting attention to the Kevin Warsh Fed Chair nomination hearing before the Senate on Tuesday.