U.S. Treasury yields pared earlier gains on Tuesday as optimism over a potential U.S.-Iran agreement faded after an Iranian official indicated that the Strait of Hormuz would remain closed unless Washington met Tehran's demands, Reuters reported.
The benchmark 10-year Treasury yield was down less than 1 basis point at 4.690%, while the 30-year yield was little changed at 5.241%. Bond yields move inversely to prices. The 2-year yield, which is particularly sensitive to expectations for Federal Reserve policy, fell 1.7 basis points to 4.222%.
