The U.S. 10-year Treasury fell slightly on Friday as investors awaited remarks from Federal Reserve Chair Jerome Powell at the annual Jackson Hole symposium.
At 4:08 a.m. ET, the yield on the 10-year Treasury was down under a basis point to 3.85%, and the yield on the 2-year Treasury rose under a basis point to 4.01%.
Yields and prices move in opposite directions. One basis point equals 0.01%.
Powell is poised to deliver a highly anticipated speech at Jackson Hole on Friday, with market participants bracing themselves for fresh insights on the U.S. central bank’s interest rate cut plans.
Earlier in the week, minutes from the Fed’s July meeting showed that the “vast majority” of central bank officials “observed that, if the data continued to come in about as expected, it would likely be appropriate to ease policy at the next meeting.”
Market participants are firmly pricing in an interest rate cut at the Fed’s next meeting. Traders are…
