US Treasury prices rose sharply and then fell back, as traders sought safety amid Bauman's speech improving the prospect of a rate cut by the Federal Reserve in July.

On Monday, in the New York afternoon session, the US 10-year benchmark Treasury yield fell by 2.76 basis points to 4.3475%. The 2-year Treasury yield dropped by 4.44 basis points to 3.8633%. The 20-year Treasury yield declined by 1.96 basis points, while the 30-year Treasury yield fell by 1.42 basis points. The 3-year Treasury yield dropped by 5.05 basis points, the 5-year Treasury yield fell by 4.74 basis points, and the 7-year Treasury yield decreased by 4.18 basis points. The 3-month Treasury bill/10-year Treasury yield spread increased by 1.492 basis points to +7.511 basis points. The 2/10-year Treasury yield spread rose by 1.486 basis points to +48.017 basis points. The 2/30-year Treasury yield spread widened by 3.022 basis points, and the 5/30-year Treasury yield spread increased by 3.321 basis points. The US 10-year inflation-protected Treasury yield rose by 0.18 basis points to 2.0247%.