Some analysts see a disconnect between the Fed's likely path and market expectations.
three days of drills
U.S. Labor Department data on Friday showed that nonfarm payrolls increased by 236,000 jobs last month, just shy of the 239,000 expected by economists in a Reuters poll. "Investors are anticipating last month's U.S. bank failures will force the Fed to cut rates but officials warn sticky inflation will make the Fed unlikely to ease policy this year."
The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, eased to 3.951%, after closing at 3.993% on Friday's abbreviated trading. The yield on 10-year Treasury notes was at 3.372%.
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