According to Odaily, US Treasury yields have risen, with the 10-year yield falling below 4% for the first time since February. This movement comes as investors believe that recent economic data supports the Federal Reserve cutting interest rates three times this year. The decline in yields was influenced by manufacturing data that reinforced this market sentiment. Additionally, an increase in initial jobless claims last week suggests a slowdown in the labor market. Interest rate swap traders now see a 100% probability of a total 75 basis point rate cut this year, implying a 25 basis point cut at each of the next three rate meetings.