Treasury yield little changed ahead of key economic data, Fed meeting minutes

U.S. Treasury yields remained steady as investors awaited key data and considered remarks from Federal Reserve Chairman Jerome Powell. The 10-year Treasury yield rose by less than one basis point to 4.4375%, while the 2-year Treasury yield increased by over one basis point. Powell noted progress in addressing inflation but emphasized the need for further evidence before considering rate cuts. Investors will scrutinize the Fed’s meeting minutes for insights into inflation and monetary policy expectations. Additionally, import/export figures, the services sector, and the ADP private payrolls report are due. Friday’s June jobs report will provide further indications about economic cooling and potential interest rate changes.