10-Year T-Note futures traded higher for a second consecutive session, reclaiming the 111 handle and pricing around 111'01 as the market bounced off recent multi-month lows. The upward price action was driven by softer U.S. economic data, as both JOLTS job openings and Chicago PMI came in below expectations, despite a slight uptick in consumer confidence. Additionally, a perceived softening in Middle East tensions and a pullback in crude oil prices helped stem short-term concerns, providing a bid across Treasury markets. As futures prices moved higher, yields declined across the entire duration curve. The 10-Year yield dropped 4.5 bps to 4.30%, with similar 4 to 5 bps declines seen from the 1-year out to the 30-year. Recent Fed speak also left the door open for potential rate cuts later in the year, providing further underlying support.