U.S. Treasury yields fell sharply early Wednesday morning due to hopes of a resolution of the two-month-long war in the Middle East, with the 10-year Treasurys moving 6 basis points lower to 4.0075%. The 2-year Treasury note, which closely tracks short-term Federal Reserve rate moves, also dropped more than 6%. The drop in borrowing costs came as President Donald Trump announced that 'Project Freedom' had been halted, with reports of a one-page agreement being reached between the U.S., Iran, and the United States. The Treasury's borrowing costs also dropped, with energy prices dropping below $100 a barrel.