Liquidity in the $27 trillion U.S. Treasury market, the largest government bond market in the world, is back to levels seen before the Federal Reserve started hiking interest rates in 2022, according to a New York Fed report.

Further weakening of the jobs market is the top worry for investors after last week's rate cut of 50 basis points, or half a percentage point, from the Federal Reserve, according to a survey of investors conducted by Piper Sandler's Michael Kantrowitz.

Investors are cheering as policymakers expect the labor market to hold steady through a series of smaller cuts into 2025.

Gold rose on Monday and lingered near record-high levels, as bullish market sentiment after the U.S. Federal Reserve cut interest rates last week combined with geopolitical tensions drove prices despite a stronger dollar.