Steady 10-year yield, PCE up, Fed likely holds rates

The 10-year U.S. Treasury yield remained steady at 4.2004%, with the 2-year yield slightly lower at 4.5972%. The PCE for February showed a 2.8% increase on a 12-month basis, meeting expectations. Traders predict the Fed will maintain rates in May, with a 55% chance of a cut in June. Fed Governor Waller suggested a prolonged hold on rates to support sustainable inflation.