Mortgage rates battle latest Iran news with help from bond auction 🏦💱📊

Flash Market Update

Jon Kutsmeda | Mortgage Expert

Jun 10, 2026

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CPI inflation reported consumer prices were up 4.2% year-over-year, which is the highest in three years.

But markets trade on expectations and although this type of print is not a good sign, it hit expectations on the nail.

As a result, bond prices didn’t move much on the release.

However, the risk of further escalation with Iran has once again filled newswires.

Trump made fresh threats to strike Iran again, while mentioning a “secret mission” that has helped 100 million barrels and 200 ships safely navigate the Strait of Hormuz.

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Helping to offset both the inflation data and war headlines was a strong 10-Year Note auction.

Indirect bidders, which include other central banks and foreign investors, purchased 78.2% of the note offering.

This was a top 5 record foreign takedown and 1.5 standard deviations above the average, pushing the bid-to-cover ratio from 2.402 to 2.569; the best since September 2025.

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