The U.S. 10-year Treasury yield slipped Monday, continuing a downward trend after Federal Reserve Chair Jerome Powell last week gave his strongest indication yet that rate cuts are near.
The yield on the 10-year Treasury slipped around 2 basis points to 3.788% by 6:15 a.m. ET, while the 2-year Treasury yield was also around 2 basis points lower at 3.891%.
Yields and prices move in opposite directions. One basis point equals 0.01%.
The 10-year yield slipped by around 6 basis points on Friday, and the 2-year yield pulled back almost 10 basis points.
Last week, Powell bolstered already-high expectations for a rate cut at the central bank’s next meeting, saying that “the time has come for policy to adjust.”
“Inflation has declined significantly. The labor market is no longer overheated, and conditions are now less tight than those that prevailed before the pandemic,” Powell said in his hotly anticipated speech at the annual Jackson Hole…
