Treasuries Rise as Traders Downplay Inflation in Fed Minutes

US Treasuries gained for a second day as traders shrugged off the risks of inflation policymakers raised at last month’s Federal Reserve meeting and turned their focus to Jerome Powell’s speech later this week.

Two-year yields — which are most sensitive to changes in monetary policy — edged lower to 3.74% while the benchmark 10-year’s fell two basis point to close at 4.29%.