The decline in oil prices and dovish remarks from Federal Reserve officials boost rate cut bets, leading to a decrease in short-term U.S. Treasury yields
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Due to the decline in oil prices and dovish comments from Federal Reserve officials boosting rate cut bets, U.S. Treasury prices rose, and short-term U.S. Treasury yields fell by 3 basis points to 3.83%. The market has fully priced in expectations for two rate cuts by the Federal Reserve before the end of the year, with a 25% probability for a third rate cut. The dovish remarks from Federal Reserve officials have drawn market attention, as Powell is set to present a monetary policy report to the House Financial Services Committee
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