Capital Economics economists Thomas Mathews and Jonas Goltermann noted in a report that demand shocks typically carry greater weight for U.S. Treasuries than supply shocks. “Therefore, we do not expect significant changes in Venezuelan supply—whether increases or decreases—to have a significant impact on U.S. Treasuries.” U.S. Treasuries reacted mildly to news that U.S. forces had captured Venezuelan President Maduro over the weekend, edging lower during the Asian afternoon session. According to Tradeweb data, the yield on the 10-year Treasury note fell 1.2 basis points to 4.176%.