The temporary suspension of hostilities between the United States and Iran continues to hold, triggering a sharp decline in US Treasury yields. Yields on UK and German government bonds also fell as oil prices retreated.

During Monday's early trading session, the key benchmark 10-year US Treasury yield—the primary pricing benchmark for mortgages, auto loans, and credit card debt—dropped more than 4 basis points to 4.6345%. The 2-year US Treasury yield, which typically tracks short-term Federal Reserve interest rate decisions, fell 3 basis points to 4.3008%. The 30-year US Treasury yield declined 3 basis points to 5.1239%.

Yields on UK government bonds also moved lower, with the 10-year UK gilt yield falling more than 5 basis points to 4.9828%, while the 2-year UK gilt yield dropped 6 basis points to 4.3587%. Meanwhile, the 10-year German Bund yield, considered a benchmark for eurozone debt, decreased 4 basis points to 3.1327%.