Todd Colvin analyzes the move in 10-Year Treasury yields, which fell to an intraday low of 4.73% before settling near 4.75%, down 2.5 basis points on the session. The decline followed dovish comments from Federal Reserve Governor Christopher Waller regarding the potential for a rate pause at the September FOMC meeting, contrasting with earlier hawkish tone from the Fed Chair. Colvin also notes that Treasury volatility eased alongside yields, as measured by the CVOL index. Looking ahead, traders await Friday's U.S. employment report, followed by upcoming inflation data and Treasury refunding announcements.