Powell avoided giving guidance on the September Intrerest Rate, and US Treasury yields pump.

Jin10 data reported on July 31, the bond market is translating Powell’s remarks into selling behavior of U.S. Treasury bonds. Since he began answering reporters’ questions at 2:30 PM Eastern Time, the yield has been rising, contrasting sharply with the yield decline that occurred after the Fed’s decision to maintain interest rates at 2 PM. Powell avoided giving clear guidance on the September meeting, merely stating that upcoming data will guide monetary policy. The market originally expected the Fed to cut interest rates at the September meeting. As a result, the U.S. 10-year yield rose from 4.342% when Powell took the stage to 4.378%.