10-Year Treasury yields declined slightly by two bps during Tuesday's session, closing near 4.42% but holding above the key psychological level of 4.40%. Despite crude oil prices moving off their recent highs, the energy market remains north of 100 dollars a barrel, moving in tandem with U.S. yields. Volatility, as measured by the CVOL index, also tracked lower alongside Treasury yields today but remains elevated for the week. Looking ahead, market participants are focused on a busy economic calendar. Wednesday features early mortgage applications, the ADP employment change, the quarterly refunding announcement, and scheduled Federal Reserve speakers, all leading up to Friday's highly anticipated non-farm payrolls report.