Svmuureports that White House officials said Trump met with oil company executives on Tuesday to discuss the possibility of maintaining a blockade of the Strait of Hormuz for several months if necessary. The already pressured U.S. Treasury bond prices fell on the news. Brent crude oil continued to climb following the report, with its intraday gain once expanding to 5%, further hitting the bond market. Commodity Trading Advisors (CTAs) covered profitable short positions after the data release, then began selling again. As support levels at various maturities on the yield curve were breached, algorithmic trading took over. (Jinshi)