Mumbai, July 29 -- Treasury yields continued to retreat on Tuesday as traders await this week's Federal Reserve interest rate decision while the on-going pause in U.S.-Iran hostilities sent oil prices lower, raising hopes of a more sustainable ceasefire arrangement.

The 10-year Treasury note yield - the main benchmark for mortgages, auto loans and credit card debt - was down by more than 3 bps at 4.60%.

The yield on the 2-year Treasury note which tends to react in line with short-term Federal Reserve interest rate decisions, was about 4 bps lower at 4.28%. The longer-dated 30-year Treasury yield which is often sensitive to geopolitical events, was seen more than 3 bps lower at 5.09%.

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