CITIGROUP strategist Jason Williams said in a note the U.S. Treasury market is
seeing a mild buyers' wait‑and‑see. He said strong PMI data published last
Wednesday exacerbated the dynamic and last week's hawkish Fed comments may keep
buyers sidelined. Williams added: “Persistent hawkish rhetoric makes us wonder:
if the dot‑plot median implies one more rate hike, why didn't the SEP dot plot
appear more hawkish?”