FXStreet (Mumbai) - The yields on the long duration treasury notes in the US fell on Wednesday as falling commodity prices are expected to push inflation expectations lower. The yield on the benchmark 10-yr Treasury note in the US currently trades 2.4 basis points (bps) lower at 2.048%. The yield had hit a low of 2.039%. 30-yr yield also fell more than 3 basis points. The yields came under pressure as the commodity prices extended losses today. Oil fell below USD 50/barrel in the US, while Comex copper also declined more than 1%. The lower commodity prices are expected to drag inflation lower and thus support the case for holding interest rates low. Meanwhile, the drop in the Chinese equity markets also triggered a demand for safe haven treasuries and kept yields under pressure. For more information, read our latest forex news.