The US Treasury market saw a rally after data showed slower-than-expected economic growth, fueling bets that the Federal Reserve will lower interest rates this year to avoid recession. Investors expect two rate cuts in October and December, with September becoming increasingly likely, also leading to a decline in the dollar and mixed performance on the S&P 500.
Source: https://www.bloomberg.com/news/articles/2025-06-03/stock-market-today-dow-s-p-live-updates