According to a report from Axios, Iran has responded via Pakistan to the latest proposed revisions to a ceasefire agreement put forward by the United States on Thursday. Following the news, U.S. Treasury futures advanced to their highest levels of the day, while yields on cash Treasuries shifted to modest declines across the board.

As oil prices retreated in response to the report, U.S. Treasury yields turned from slight earlier gains to minor losses or near unchanged levels for the session. The June WTI crude futures contract was down approximately 2% on the day and touched its lowest intraday level.

The yield on the 10-year U.S. Treasury note fell to its session low, around 4.365%.