According to online reports, Capital Investment macro analyst Thomas Mathews said in a report that despite the recent strong performance of U.S. Treasury bonds, they are expected to struggle for the rest of the year. "The weeks-long rally in U.S. Treasuries appears to have stalled," Mathews said. Comments by Federal Reserve Chairman Powell at a meeting in Sintra, Portugal, appeared to have been a factor in the pause in the rally. Powell said that as long as the economy is stable, there will be no rush to cut interest rates. "For our part, we doubt whether the Fed will have the evidence it needs to cut rates before next year and whether it will succumb to political pressure," he said. Capital Investment Macroeconomics does not expect the Federal Reserve to cut interest rates before next year.