22.09.202514:14:05UTC+00Treasury Yields Little Changed

The yield on the U.S. 10-year Treasury note remained steady near 4.14% on Monday, maintaining its status at a three-week high as traders anticipated insights from various Federal Reserve officials, including Chair Jerome Powell, regarding future policy directions. St. Louis Fed President Alberto Musalem mentioned that interest rates are presently "between modestly restrictive and neutral," cautioning that there is limited scope for additional cuts without risking an overly accommodative stance. Last week, the Federal Reserve reduced the funds rate for the first time this year, signaling the possibility of another 50 basis points cut in the future; however, Chair Powell stressed that this move does not indicate the commencement of a new easing cycle. Attention will also be directed towards Friday's Personal Consumption Expenditures (PCE) report, which will provide updated inflation data. In addition, a series of Treasury auctions is scheduled for this week, including $69 billion in 2-year notes on Tuesday, $70 billion in 5-year notes on Wednesday, and $44 billion in 7-year notes on Thursday.