Meanwhile, the yield on the 2-year Treasury was about two basis points higher at 4.047%. After jumping 12 basis points on Monday, the yield on the 10-year Treasury rose nearly three basis points to 4.21%, a level it has not reached in three months. The U.S. 10-year Treasury yield continued its gains on Tuesday after Federal Reserve officials urged caution on the path of interest rate cuts. It is a quiet week on the data front, but a busy week for Federal Reserve commentary, with an array of policymakers delivering speeches. Rates have actually increased since the Fed cut rates by a half point one month ago.

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Persons: Neel Kashkari, Lorie Logan, Jeff Schmid, —, Jeff Cox Organizations: Treasury, Federal, Federal Reserve, Minneapolis, Dallas Federal, Kansas, Traders Locations: U.S