U.S. Treasury Yields Decline Ahead of Key Economic Data Releases

According to Odaily, U.S. Treasury yields fell during the European afternoon trading session as markets closely monitored upcoming economic data that could influence the Federal Reserve's policy stance. Konstantinos Chrysikos from Kudotrade noted in a report that investors adopted a cautious approach ahead of a series of significant U.S. economic data releases, which may further shape market expectations regarding Federal Reserve policy. Later, the ISM Services PMI data, along with the ADP and JOLTS labor market reports, are expected to be released. LSEG data indicates that the currency market is currently pricing in two rate cuts by the Federal Reserve this year. Tradeweb data shows that the 2-year Treasury yield decreased by 1.4 basis points to 3.458%, the 10-year yield fell by 3.7 basis points to 4.141%, and the 30-year yield dropped by 4.2 basis points to 4.823%.