0553 GMT - The U.S. Treasury's $70 billion auction of five-year notes on Wednesday is expected to be well received, Pepperstone's Michael Brown says in a note. The supply "should be taken down well," the senior research strategist says. More broadly, market participants have now decisively drawn a line under geopolitical tensions, with peak risk clearly in the rear view mirror, allowing focus to return to the fundamental backdrop, he says. Fed Chair Powell is in his day two of the semi-annual testimony, "though comments should by and large be a reiteration of those made yesterday," Brown says. U.S. Treasury yields are barely changed, with the five-year yield trading at 3.860% and the 10-year yield at 4.292%, according to LSEG. (emese.bartha@wsj.com)

(END) Dow Jones Newswires

June 25, 2025 01:53 ET (05:53 GMT)

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