The yield on the 10-year US Treasury note held steady around 4.19% on Monday, hovering near four-month highs, as investors focused on key US economic data this week that could influence Federal Reserve policy. Markets are watching December’s jobs report on Friday, along with JOLTS and ADP employment figures, ISM PMIs, and the Michigan consumer confidence survey. Traders currently expect two US rate cuts this year, despite the Fed projecting only one. Meanwhile, Philadelphia Fed President Anna Paulson said additional rate cuts could be appropriate later this year depending on economic performance. Attention is also turning to President Trump’s anticipated announcement of his choice for the next Fed chair, who is expected to support his push for lower borrowing costs.
