Treasury yields mixed as investors brace for Fed Chair Powell's speech at Jackson Hole

The U.S. 10-year Treasury yield declined slightly while awaiting remarks from the Federal Reserve Chair at the Jackson Hole symposium. The yield on the 10-year Treasury was down to 3.85%, while the yield on the 2-year Treasury rose to 4.01%. Investors eagerly anticipate fresh insights on the central bank’s interest rate cut plans during Powell’s speech. Market participants have already priced in an interest rate cut at the next Fed meeting, with a 76% chance of a 25-basis-point cut in September. Almost one-quarter of traders expect a 50-basis-point cut.