10-Year yields moved lower during the session, reaching 4.01% to match previous lows before settling near 4.03%. The decline in yields accompanied a flight to quality as risk assets faced selling pressure. Fed Governor Waller characterized the upcoming February jobs report as a potential catalyst for future shifts in short-term policy. Meanwhile, the CME CVOL index trended higher as market participants navigated both economic and geopolitical uncertainty. Looking ahead to Tuesday, the market awaits ADP employment data, consumer confidence reports, and a 69 billion 2-Year Note auction.
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