The waiver will bring some 140 million barrels of oil to global markets and help relieve pressure on energy supply, Treasury Secretary Scott Bessent posted on X
Avoiding a government shutdown is also at the top of the agenda, alongside dodging a catastrophic credit default, which may be the largest of the looming deadlines
"Right now it's month-end rebalancing," said Ian Lyngen, head of US rates strategy at BMO Capital Markets in New York, noting the next major market catalyst will be next Friday's jobs report for April.
The yields fell back down in the afternoon, however, and are now trading in the middle of their recent range.
A short burst of selling on Thursday morning was also seen with a brief spike in trading volumes in long-dated Treasury futures, while the five-year, 30-year Treasury yield curve steepened relatively sharply.