Geopolitical shocks do not tend to affect UST yields independent of their impact on oil prices | Deutsche Bank

[- TheBondBeat Substack](https://substackcdn.com/image/fetch/$s_!kgXg!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc9e30b56-4c71-4240-afa8-f2aab6b16eb2_1188x443.png) > The results indicate that **positive oil price moves and data surprises significantly lift yields, higher policy uncertainty lowers them, and geopolitical shocks have no direct…