Treasury yields unmoved as investors digest U.S.-Iran ceasefire extension

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U.S. Treasury yields were broadly flat early Wednesday after President Donald Trump announced an indefinite extension to the ceasefire with Iran.

The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing — was largely flat at 4.297%.

The 2-year Treasury note yield, which more closely tracks short-term Federal Reserve interest rate policy, was flat at 3.777%. The longer-dated 30-year Treasury bond yield was up more than a basis point at 4.910%.

One basis point is equal to 0.01%, and yields and prices move in opposite directions.