Overview
- The 10-year Treasury yield rose about one basis point to 4.389%, the 2-year held near 3.865%, and the 30-year climbed more than two basis points to 4.959%.
- Investors are focused on Powell’s Washington address for guidance on the timing and scale of potential rate cuts.
- President Trump’s calls for Powell’s removal and Treasury Secretary Scott Bessent’s proposal to review the Fed have heightened market uncertainty.
- Traders are also monitoring this week’s data releases, including June existing home sales, weekly jobless claims and durable goods orders.
- Longer-term sentiment remains influenced by June’s 0.3% drop in the Leading Economic Index and the looming August 1 tariff payment deadline.