The Fed may hint at a September rate cut this week

Economists surveyed by The Wall Street Journal expect softening in consumer confidence and labor cost index before the interest rate decision, while ADP data is expected to rise. The non-farm employment in July, which will be released on Friday, may decrease, while the unemployment rate will remain at 4.1%. The 10-year US Treasury yield is 4.156%, close to the multi-month low touched earlier this month. The 2-year US Treasury yield is 4.374%, falling back to the level at the beginning of February. US Treasury yields fell before the Federal Reserve made its interest rate decision. It is expected that the Fed will maintain interest rates this time and suggest a possible rate cut in September.