U.S. Treasury yields fell on April 30 as oil prices dropped from a four-year high of $126 per barrel, driven by concerns over potential Middle East supply disruptions due to escalating tensions between the U.S. and Iran. The Federal Reserve's recent meeting signaled a more hawkish tone, reducing expectations for interest rate cuts. The two-year Treasury yield decreased by 4.9 basis points to 3.883%, while the benchmark 10-year note yield fell by 2.8 basis points to 4.388%. Mixed economic data revealed that first-quarter GDP grew at a 2% annualized rate, which fell short of the anticipated 2.3%. Additionally, the Personal Consumption Expenditures Price Index, the Fed's preferred inflation measure, rose by 0.7% in March, aligning with forecasts and bringing the annual inflation rate to 3.5%. This data supports the Fed's cautious approach as it navigates economic uncertainties.