Traders 100% priced in three rate cuts by the Federal Reserve this year.

ChainCatcher news, U.S. Treasury bonds rose, and yields hovered at the lowest level since February. Investors believe that economic data supports the Fed's three rate cuts this year. The 10-year yield fell below 4% for the first time since February, and the previously released manufacturing data reinforced the market's view. The increase in the number of initial jobless claims last week indicates a slowdown in the labor market. Interest rate swap traders expect a 100% chance of a total rate cut of 75 basis points this year, which means that each of the next three interest rate meetings will cut interest rates by 25 basis points. (Jinshi)