Traders price in a 100% chance of the Federal Reserve cutting rates three times this year

ChainCatcher News, U.S. Treasury yields rise, hovering at their lowest levels since February, as investors believe economic data supports the Federal Reserve cutting rates three times this year. The 10-year yield has fallen below 4% for the first time since February, as recently released manufacturing data reinforced this market view. Last week's increase in initial jobless claims indicates a slowdown in the labor market. Interest rate swap traders expect a total cut of 75 basis points this year, with a 100% probability, meaning a 25 basis point cut at each of the next three rate meetings. (Jin Ten)