Odaily News Felipe Villarroel, portfolio manager at TwentyFour Asset Management, said U.S. Treasury yields could rise slightly as Federal Reserve Chairman Jerome Powell is likely to "strike a calm tone" in his much-anticipated Jackson Hole speech tomorrow. A cooling U.S. labor market has sparked bets on aggressive rate cuts, which Powell may counter. "The market is pricing in 100 basis points of rate cuts this year, which seems a bit excessive given the current data," Villarroel said. He expects a 50 basis point cut in September instead of a 25 basis point cut. "The economy and the labor market are slowing, but they are still in good shape." (Jinshi)