2-year Treasury yield falls as investors fret over economic outlook

U.S. Treasury yields decreased on Wednesday as investors evaluated the economic outlook based on recent data releases. The 10-year Treasury yield fell by over three basis points to 3.8082%, while the 2-year Treasury yield dropped by over five basis points to 3.8363%. Manufacturing production insights from Tuesday raised concerns about an economic slowdown, prompting speculation on whether the Federal Reserve should cut interest rates. The upcoming August jobs report will provide further insight into the labor market, with market expectations of a rate cut from the Fed at their next meeting.