Treasury yields fall as investors remain optimistic on Iran peace deal prospects despite U.S. strikes

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Treasury yields fell on Wednesday as investor optimism over a potential settlement to the war in Iran was undented by pressure on the fragile ceasefire between Washington and Tehran.

The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing — fell more than 2 basis points to 4.465%.

The 2-year Treasury note yield, which more closely tracks short-term Federal Reserve interest rate policy, also fell more than 2 basis points to 4.022%. The longer-dated 30-year Treasury bond yield fell 2 basis points to 5.005%.

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