US Treasuries rallied to conclude a volatile week, with yields reaching their lowest levels in a month as tensions in the Middle East eased, leading to a decline in oil prices. Brent crude fell below $90 a barrel, prompting traders to increase their bets on potential interest rate cuts by the Federal Reserve. The benchmark 10-year yield closed at 4.24%, down from 4.32% the previous week. This rally coincided with a decrease in the two-year yield, which fell below the Fed's upper bound of 3.75%. Fed Governor Christopher Waller suggested that the central bank might need to hold rates steady for an extended period if inflation risks outweigh labor market concerns. As a result, the bond market is closely watching upcoming developments, including a Senate committee hearing for Kevin Warsh, nominated to lead the Fed. Analysts believe that lower energy prices could ease inflation pressures, positively impacting both stock and bond markets globally.