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The yield on the US 10-year Treasury note remained steady at approximately 4.29% on Tuesday, following a rise of about 4 basis points in the previous session. This comes as traders adjust their expectations around monetary policy in light of the new Federal Reserve Chair, Warsh. Investors are currently anticipating two federal funds rate cuts by the Fed this year, potentially occurring in June and October. In other developments, key labor market data, including the JOLTS survey and the monthly employment report scheduled for release this week, will be postponed due to the ongoing partial US government shutdown. House Republicans are poised to vote on Tuesday on a government funding package that has already received Senate approval. Additionally, the US Treasury Department announced it anticipates borrowing $574 billion in the first quarter, which is $3 billion less than their November projection. This adjustment is primarily due to an increased cash balance at the quarter's start. Investors are keenly awaiting further information on Wednesday, especially regarding any plans to increase the issuance of longer-term bonds.
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