US Treasury yields fall before Fed minutes
U.S. Treasury bond yields temporarily declined, with the 10-year yield dropping to 4.69% and the 2-year Treasury bill yield falling to 4.16%. This retreat followed a broad sell-off that impacted global markets, amid a rise in the U.S. federal deficit to $432.3 billion in July, bringing the total annual deficit close to $1.8 trillion. These developments heightened concerns over inflation and its effect on interest rates. Investors are now awaiting the Federal Reserve's meeting minutes to gauge the stance of monetary policy, especially given the divisions within the Fed regarding interest rate hikes.
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