 The yield on the 10-year U.S. Treasury at 4.21% with trading underway in Tokyo. The two-year at 4.44%. We did have the yield on the 30-year move up above the two-year during the session. We also had the Fed Chief Jerome Powell saying that recent data suggests to policymakers inflation is getting close to the target. We have traders pricing fully in two rate cuts this year with the implied odds of a third reaching about 60%.