Treasury yields edged higher Monday as investors weighed Fed Chair Jerome Powell’s Jackson Hole remarks and awaited key inflation data later this week, according to CNBC. The 10-year yield rose about one basis point to 4.26% and the 2-year climbed more than two basis points to 3.71% as of early morning trading. Powell signaled the possibility of a September rate cut but emphasized uncertainty in policy decisions due to shifts in tax, trade, and immigration. Lazard strategist Ronald Temple said the likelihood of a 25-basis-point cut increased following Powell’s speech. Markets now turn to Friday’s release of July’s core PCE index, the Fed’s preferred inflation gauge, expected to rise 2.9% year over year from 2.8% in June.
