Treasury selloff accelerates after Trump: US doesn't need Iran deal

President Trump said the US doesn't need a deal with Iran, dashing peace hopes and sending oil prices higher. The two-year Treasury yield rose 9 bp to 4.814%, the 10-year yield rose 6 bp to 5.046%. Markets price an 88% chance of a 25 bp Fed hike in December. UK Q3 GDP grew 0.7% q/q, supporting BOE rate hike expectations. The Treasury will auction $25 billion in 30-year bonds later today.