The yield on the 10-year US Treasury note edged up to around 4.25% on Thursday, rising for a third straight session after a weak auction of new 10-year notes fueled concerns over long-term inflation risks. Despite the uptick, yields remained near three-month lows as markets continued to price in Federal Reserve rate cuts and potential leadership changes at the central bank. Investors are now focused on the latest weekly jobless claims data, following last week’s softer-than-expected employment report that strengthened expectations for a rate cut in September, with another likely in December. Adding to the uncertainty, President Donald Trump is expected to nominate a successor to outgoing Fed Governor Adriana Kugler by the end of the week and has narrowed the shortlist to four candidates to replace Fed Chair Jerome Powell.
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