(Bloomberg) -- Treasuries pared their biggest rally of the year after the latest flareup in tensions in the Middle East dissipated, bringing the outlook for inflation back into focus.Most Read from BloombergElon Wants His Money BackDubai Grinds to Standstill as Flooding Hits CityIsrael Reported to Have Launched Retaliatory Strike on IranRecord Rainfall in Dubai? Blame Climate Change, Not Cloud SeedingOil Erases Advance After Iranian Media Downplays Israel’s AttackThe yield on 10-year US governme