Treasury yields slide after Memorial Day break as traders weigh Iran peace prospects

Government

Treasury yields fell on Tuesday as bond markets returned from a Memorial Day break to bolstered hopes of a Middle East peace deal, even as the U.S. military conducted fresh strikes on Iran. The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing — fell more than 6 basis points to 4.510%. The 2-year Treasury note yield, which more closely tracks short-term Federal Reserve interest rate policy, fell more than 6 basis points to 4.066%. The longer-dated 30-year