The yield on the 10-year US Treasury note held above 4.32% on Friday, sustaining its recent advance as investors awaited Federal Reserve Chair Jerome Powell’s speech at Jackson Hole for fresh guidance on the policy outlook. Markets are looking for clarity on the path of interest rates amid concerns that Powell could push back against expectations for near-term easing. Futures currently imply about a 75% chance of a 25 basis point rate cut in September, down from over 90% a week earlier. Policymakers have warned that tariff-related price pressures continue to pose inflation risks, while signs of labor market weakness remain limited. Kansas City Fed President Jeffrey Schmid said that “modestly restrictive” monetary policy is still appropriate in light of inflation risks, while Cleveland Fed President Beth Hammack emphasized that she does not support rate cuts at this stage.
Manage Consent
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.
The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.