Traders work on the floor of the New York Stock Exchange on July 23, 2025.
NYSE
Treasury yields were little changed on Friday as investors closely monitored Middle East developments on the final trading day of the month, amid signs that a lasting U.S.-Iran ceasefire agreement could now be in sight.
The 10-year U.S. Treasury note yield — the key benchmark for mortgages, auto loans and credit card debt — was down 1 basis point at 4.445%. The 2-year Treasury note yield, which is typically more sensitive to short-term Federal Reserve interest rate decisions, fell more than 2 basis points to 4.004%.
Meanwhile, the longer-dated 30-year Treasury bond yield, which tends to react mainly to geopolitical risks, rose less than a basis point to 4.986%.
One basis point is equal to 0.01%, and yields and prices move in opposite directions.
Borrowing costs fell during Thursday’s session, with the 10-year Treasury yield sliding more than 3 basis points as energy prices eased on reports that Washington and Tehran have largely agreed on the terms of a 60-day memorandum of understanding to extend the ceasefire.
The deal, which also involves negotiations on Iran’s nuclear program, still needs sign-off from President Donald Trump. He said Friday that he is meeting in the Situation Room “to make a final determination” regarding the deal.
Prices of West Texas Intermediate futures are now below $90 a barrel, sliding 2% on Friday to around $87 per barrel. Brent — the international oil price benchmark — was last seen 2% lower at roughly $92 a barrel.
The retreat comes after traders probed several data releases on Thursday that suggested inflation remains a key concern for the U.S. economy. Most notably, the personal consumption expenditures price index — the Fed’s preferred inflation gauge — was up 3.8% year-on-year in April.
There are no new economic data releases expected on Friday.
— CNBC’s Kevin Breuninger contributed to this report.