In Tuesday afternoon trading, US Treasury futures erased earlier losses, with yields turning slightly lower for the day, driven by a widening sell-off in equities and WTI crude oil futures extending gains beyond their intraday rally. The stock market weakness was primarily fueled by renewed selling pressure on technology shares, while oil prices accelerated their advance following reports that the US Navy shot down an Iranian drone heading toward an American aircraft carrier in the Arabian Sea. A busy corporate bond issuance calendar was dominated by financial sector deals, led by a multi-tranche offering from Bank of America across various maturities. Shortly after 3 PM New York time, Treasury yields were down across the curve by approximately 1 basis point, with spreads trading within 1 basis point of Monday's closing levels. The 10-year Treasury yield hovered around 4.27%, showing a slight decrease on the day and outperforming both German bunds and UK gilts. The S&P 500 index fell 1.2% just before the cash Treasury market closed, providing support to bonds; the Nasdaq index dropped about 1%, pressured by a retreat in software stocks. WTI crude oil futures were up 2.8% late in the session, trading near the day's highs. The corporate bond issuance schedule was led by financial institutions, with nine companies collectively issuing $21.4 billion, the majority of which came from financial issuers; this week's total issuance volume approached $50 billion. Earlier in the US session, Treasuries faced downward pressure, influenced by steeper declines in European bonds; the yield on Germany's 30-year bond climbed to its highest level since 2011, as markets continued to focus on European government debt supply. At 4:00 PM New York time, The 2-year Treasury yield was at 3.5655%; The 5-year Treasury yield was at 3.8297%; The 10-year Treasury yield was at 4.2635%; The 30-year Treasury yield was at 4.8952%; The spread between the 5-year and 30-year Treasury yields was 106.37 basis points; The spread between the 2-year and 10-year Treasury yields was 69.59 basis points.