Mumbai, April 9 -- Treasury yields dropped as hopes built that easing oil prices could let the Federal Reserve resume its cuts to interest rates later this year. The yield on the 10-year Treasury fell to 4.29% from 4.33% late Tuesday. Lower Treasury yields give a boost to prices for stocks, bonds and all kinds of other investments. They should also ease some of the recent rise in rates for mortgages and other loans taken out by U.S. households and businesses.

The yield on the 2-year Treasury note which more closely follows short-term Federal Reserve rate moves, was down 4 bps at 3.79%. he yield on the 10-year U.S. Treasury note - the benchmark for government borrowing - dropped around 4 bps to 4.30%. The 30-year Treasury note yield dropp...