FX.co ★ US 10-Year Yield Hovers at 3-Week Low

The yield on the US 10-year Treasury note remained steady around 4.2% on Tuesday, marking its lowest level in three weeks. Investors are closely monitoring forthcoming economic data that might shed light on the initial effects of President Donald Trump's newly imposed tariffs. Key market attention is on Wednesday's release of first-quarter GDP numbers and the Federal Reserve's preferred PCE inflation measure, with April's jobs report following on Friday. Indications of a slowing economy could amplify expectations for the Federal Reserve to consider earlier rate cuts, potentially exerting further downward pressure on yields. On the international trade front, China has denied engaging in talks with the US, countering claims of dialogue between President Xi Jinping and Donald Trump. Meanwhile, US Treasury Secretary Scott Bessent has reported progress with several trading partners and hinted that a trade agreement with India might soon be announced.