Treasury yields edge lower as traders react to Powell testimony, jobs data

U.S. Treasury yields were inching lower on Wednesday as traders digested Congressional testimony from Federal Reserve Chairman Jerome Powell, who expected the central bank to cut interest rates in 2024, but reiterated that there is no rush to do that unless policymakers have “greater confidence” that inflation is moving sustainably toward their 2% target.

What’s happening

What’s driving markets

In prepared remarks for congressionally mandated appearance on Capitol Hill Wednesday morning, Fed Chair Powell said…