Is oil leading yields?

WTI crude oil is down sharply today (-4%), continuing its declines after generally disappointing data from China (in terms of stimulus size) and a de-escalation of the Middle East conflict (after a report that Netanyahu told the US that Israel will strike the Iranian military and not nuclear or oil targets).

Is it time for bond yields to fall?

See Figures 1 and 2. The charts don't show it (only closing prices), but yesterday's peak on 10Y yield (intraday) was a whopping 4.15%! At the moment, yield is down from yesterday's peak by almost 7 bps.