Interest rate traders' bet on the magnitude of the Federal Reserve's interest rate cut for the year hit a new low: only 62 basis points left! The US Treasury yield further hit its highest level since the beginning of the year on Monday, as the market's belief in the Fed's three rate cuts for the year continues to erode. In contrast, the US stock market opened with little change this week, with the S&P 500, Nasdaq Composite, and Dow closing almost unchanged on Monday. Investors are waiting for the latest CPI data that may guide interest rate trends during the week.