Treasury yields retreat, oil falls as traders await Fed decision and watch Iran talks

According to CNBC, U.S. Treasury yields fell Tuesday as investors awaited this week's Federal Reserve interest rate decision, while oil prices declined on the continuing pause in U.S.-Iran hostilities. The 10-year Treasury note yield was down more than 2 basis points at 4.6163%, the 2-year yield was more than 2 basis points lower at 4.2932%, and the 30-year yield was down more than 1 basis point at 5.1104%. The Federal Open Market Committee is expected to leave rates unchanged at 3.75% on Wednesday, while markets are pricing in a 56% chance of a September hike, according to the CME Group's FedWatch tool. West Texas Intermediate futures fell 2.89% to $80.21 per barrel, and Brent crude dropped 3.50% to $85.29 after President Donald Trump said the U.S. had held "good talks" with Iran on Monday.