The yield on the US 10-year Treasury note fell to around 4.32% on Tuesday, sliding for a second consecutive session amid dovish signals from Federal Reserve Chair Jerome Powell. He said long-term US inflation expectations appear in check despite heightened uncertainties from the Middle East and noted that the central bank’s policy stance allows officials to assess the impact of the Iran war. Powell also emphasized that the central bank tends to look through supply shocks. Investors now await March’s consumer confidence index and February’s JOLTS job openings data due later today for further guidance. Treasury yields were further pressured by growing concerns over the economic fallout from the Iran war, currently outweighing inflation worries from surging oil prices.
