US Treasury yields fell on [date] after progress toward restoring safe passage for commercial vessels through the Strait of Hormuz eased concerns about energy disruptions, inflation and global supply chains. BNY (Bank of New York Mellon) said this week that recovering supply through the waterway had also reduced the geopolitical risk premium in crude markets. The benchmark 10-year Treasury yield declined by [X] basis points to [Y]%, while the two-year yield also moved lower. Because about 20% of global oil consumption passes through the strait, disruptions can raise oil prices, inflation expectations and pressure for tighter monetary policy. Traders consequently reduced bets on aggressive rate hikes, supporting bond prices, while benchmark crude prices stabilized after earlier fluctuations. OPEC+ policy, global demand, inventories and demand forecasts remain important risks, and renewed disruption could quickly reverse the market moves.