Short-term Treasuries experienced volatility as yields rose after hitting a three-year low. The 2-year yield hit 3.477% on Tuesday, the lowest since Sept. 7, 2022. It now stands at 3.495%. This rate is a key indicator for short-term interest rates and inflation expectations. Market data suggests two more interest-rate cuts this year, following Fed Chair Powell’s comments on further cuts due to labor market concerns. Trade tensions with China have also increased demand for 2-year notes.

Read more at Barron’s: Two-Year Treasury Yield Rebounds From 2022 Low in Early Trade