Reported about 2 months ago
Bond traders are rejoicing after Federal Reserve Chair Jerome Powell indicated an interest-rate cut is likely in September, following his remarks at the Jackson Hole symposium. Treasuries rallied, pushing down yields and confirming traders' expectations of easing policy from the central bank. With increasing bets on rate reductions at upcoming meetings, traders are closely watching economic data, particularly the August payroll report, for signs to support further cuts.
Source: YAHOO