Bond yields rise ahead of Powell's Jackson Hole speech

Market Expectations & Federal Reserve - The market anticipates a hawkish tone from Jerome Powell's speech at Jackson Hole [3] - The market's expectation is driving yields up leading into the speech [3] - The bond market's reaction is uncertain, with some suggesting Jay Powell is trying to read the markets [1][2] Bond Market Analysis - At 9:45 Eastern, PMIs were released, showing solid composite and strong manufacturing and service sectors [2] - Two-year Treasury yield needs to stay above 377 basis points for a new high monthly close [3] - Ten-year Treasury yield needs to be above 433 basis points for a new high monthly close [3] Currency Market - The dollar index is struggling to gain strength despite an upward turn [4]