Treasury yields tick lower ahead of Powell testimony

Bond yields dip as traders wait to see whether Fed Chairman Jay Powell gives any fresh clues about the trajectory of monetary policy in Congress on Tuesday

Bond yields fell on Tuesday ahead of Federal Reserve Chairman Jay Powell delivering testimony before Congress.

What’s happening What’s driving markets Government bond yields are nudging lower as traders wait to see whether Powell gives any fresh clues about the trajectory of monetary policy when he delivers semi-annual testimony in Congress on Tuesday. Markets are pricing in a 72.3% probability that the Fed will raise interest rates by another 25 basis points to a range of 4.75% to 5.0% after its meeting on March 22nd, according to the CME FedWatch tool.

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