US Treasury 10-year yields (%) daily chart
This is also in part a key factor that is weighing on Japanese yen pairs in FX. It's been a full-fledged flight to safety in markets to start the week. Looking to Fed pricing, traders are now seeing 128 bps of rate cuts in the next three meetings. To be more specific, traders are pricing in back-to-back 50 bps rate cuts in September and November next to start.
