US Treasuries Dip With Traders’ Bets on a Fed Rate Cut Locked In

Jerome Powell at the Federal Reserve Board open meeting in Washington, DC, on Oct. 24.Photographer: Al Drago/Bloomberg

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By Michael MacKenzie, Ruth Carson, and David Finnerty

October 29, 2025 at 4:27 AM UTC

Updated on

October 29, 2025 at 3:36 PM UTC

Treasuries edged lower ahead of a widely expected interest-rate cut by the Federal Reserve with traders focused on comments by Chair Jerome Powell for clues on the central bank’s next move.

Yields on 10-year notes rose two basis points to 3.99% after falling the previous two sessions, while monetary policy-sensitive two-year notes moved one basis point higher to 3.50% Wednesday.