ADP, JOLTS, and Other Key Data Releases Imminent, US Treasury Yields Fluctuate Lower

Odaily News: Ahead of the release of key economic data, US Treasury yields extended their decline during the European afternoon trading session, with the market closely watching the potential impact of this data on the Federal Reserve's policy stance. Konstantinos Chrysikos of Kudotrade noted in a report: "Investors are taking a cautious stance ahead of a busy series of US economic data releases, which could further shape market expectations for Fed policy." Later, the ISM Services PMI data, as well as the ADP and JOLTS labor market reports, will be released. According to LSEG data, money markets are currently pricing in two Fed rate cuts this year. Based on Tradeweb data, the 2-year US Treasury yield fell 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 fell by 4.2 basis points to 4.823%. (Jin10)