Treasury yields fall as U.S.-Iran ceasefire eases energy prices

According to CNBC, U.S. Treasury yields fell on Monday after the U.S. and Iran halted hostilities in the Middle East over the weekend, sending energy prices lower. The 10-year Treasury yield, a key benchmark for mortgages, auto loans and credit card debt, was down more than 3 basis points at 4.6406% in early trade. The 2-year yield fell 2 basis points to 4.3030%, while the 30-year yield dropped more than 3 basis points to 5.1260%. U.S. West Texas Intermediate futures slid 5.34% to $84.55, and Brent crude fell 5.77% to $91.20 after last week coming close to $100 a barrel. Traders are also looking ahead to the Federal Reserve's interest rate decision on Wednesday, with consensus forecasts calling for rates to be left unchanged at 3.75%. Investors are also watching June's core PCE price index, the latest quarterly GDP reading and new orders data for U.S.-made durable goods later this week.