Treasury yields ease as global borrowing costs tumble

Treasury yields were lower early Monday, tracking a global easing of government borrowing costs amid falling oil prices. The yield on the benchmark 10-year Treasury note fell by around 3 basis points to 4.967%, after last week hitting a 19-year high of 5.041% . The 2-year Treasury note yield was around 1 basis point lower at 4.729%. The 30-year Treasury bond yield was 3 basis points lower at 5.306%. One basis point is equal to 0.01%, and yields and prices move in opposite directions. European bond yields were broadly lower, with both the euro area benchmark — the German 10-year bund — and U.K. 10-year gilts each down by 5 basis points. Japanese markets, typically a global gauge, are closed Monday.