India, Oct. 22 -- US Treasury yields fell on Thursday as investors kept a close watch on rising tensions in the Middle East and waited for fresh US jobless claims data due later in the day. The decline in Treasury yields also came amid a broader move away from riskier assets in stock markets.

The 10-year US Treasury yield dropped by more than 7 basis points to 5.0732%. The 10-year Treasury yield is an important benchmark for borrowing costs in the US, including mortgage rates, auto loans and credit card debt, according to CNBC.

The 2-year US Treasury yield also moved lower. It fell by more than 5 basis points to 4.7654%. This yield is closely linked to investor expectations for short-term interest rate decisions by the Federal Reserve, ...