FX.co ★ US 10-Year Yield Holds Decline

The yield on the US 10-year Treasury note maintained a level around 4.37% on Tuesday, following four days of decline. This comes as investors exercise caution ahead of the crucial August 1 deadline for trade agreements with the United States. Treasury Secretary Scott Bessent emphasized on Monday that the administration is focusing on the quality of trade agreements rather than their timeline, indicating that President Donald Trump will decide whether to extend the deadline for countries showing substantial progress. On the monetary side of things, all eyes are on Federal Reserve Chair Jerome Powell's upcoming comments at an event in Washington later today, as they may offer insights into future rate policies. Although President Trump has been pressing the Fed to reduce interest rates, the markets have not yet fully factored in a rate cut for this month.