Yields on 10-Year Treasury Notes nudged lower to start the week, settling at 4.04% and down 2 basis points for the session. The market largely disregarded weaker-than-expected Empire manufacturing data. All eyes are now on the September FOMC meeting this Wednesday, where the market is pricing in a 25 basis point rate cut. Volatility has also reversed higher, likely in response to the anticipation of the Fed's announcement. Traders are also looking ahead to Tuesday, with the release of retail sales and housing data, and a 20-Year Treasury auction.
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