The U.S. 10-year Treasury yield extended gains early Tuesday after hitting its highest level since late July.
The yield on the 10-year Treasury rose 2 basis points to 4.2036%, marking its first time above 4.2% in three months, after jumping 12 basis points on Monday.It is a quiet week on the data front, but a busy week for Federal Reserve commentary, with an array of policymakers delivering speeches.
On Monday, Minneapolis Fed President Neel Kashkari said the longer-term trajectory for rates could be higher than it has been in the past; while Dallas Federal Reserve President Lorie Logan said a patient approach will be needed to lowering rates.a"cautious and deliberate" approach to rate cuts was appropriate after the Fed cut by a half percentage point in September.Rates have actually increased since the Fed cut rates by a half point one month ago.
Traders see an 87.5% chance of a quarter-point cut at the Fed's next meeting ending Nov. 7, according to the CME's Fedwatch tool based on fed funds futures trading. The majority see another cut at the central bank's December meeting. Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly36-year-old's Etsy side hustle brings in up to $54,000 a month, takes 10 hours a week — it paid off her student loan debt
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