The yield on the US 10-year Treasury hovered around 4.16%, slightly below the September highs reached earlier this month, as traders continued to assess the Federal Reserve’s policy outlook for 2026. Federal Reserve Governor Christopher Waller, who is under consideration to become chair of the central bank, reiterated his dovish stance on interest rates. “Because inflation is still elevated, we can take our time - there’s no rush to get down. We can steadily bring the policy rate down toward neutral,” Waller said at a CNBC forum. Attention now turns to the delayed CPI report due on Thursday, which is expected to provide further insight into how price pressures are evolving. Meanwhile, mixed economic data including stronger-than-expected nonfarm payrolls alongside higher unemployment, did little to shift market expectations, with investors still pricing in at least one Federal Reserve rate cut next year.