The 10-year Treasury note yield, the key benchmark for U.S. government borrowing, fell more than 2 basis points to 4.3280%. The 2-year bond yield also fell more closely aligned with short-term Federal Reserve interest rate decisions. This comes amid reports that the US and Iran may be close to agreeing to an end to their two-month-long conflict. President Donald Trump warned that Iran would be bombed "at a much higher level" if they didn't agree to a peace deal. Meanwhile, oil prices traded lower, with West Texas Intermediate futures falling 2.4% to $92.85.