10-year Treasury yield trading ~4.60% Tuesday May 19 morning, intraday range 4.56-4.63%, +1bp net from Monday's 4.601% close. Bond market holds the level through the overnight Axios rejection-of-Iran-proposal news - inflation-and-deficit risk repricing intact (German bund 15-year high, JGB 10Y 29-year high) but no new catalyst on the US-specific yield curve.