20.08.202502:46:48UTC+00US 10-Year Yield Steady Ahead of Fed Minutes

On Wednesday, the 10-year US Treasury yield remained around 4.31%, as market participants eagerly awaited the release of the Federal Reserve’s July meeting minutes for insights regarding future policy directions. This meeting stood out as the first instance since 1993 where two dissenting votes were recorded, with Fed governors Christopher Waller and Michelle Bowman advocating a quarter-point rate reduction rather than maintaining the status quo. Attention is also focused on Federal Reserve Chair Jerome Powell's upcoming speech at the Jackson Hole symposium, where he may address speculations about potential rate easing. Presently, traders anticipate an 85% probability of a rate reduction in September, with approximately 54 basis points of cuts projected by the end of the year. Additionally, investors are closely watching corporate earnings reports from prominent US retailers to better understand consumer spending patterns.