FXStreet (Mumbai) - The benchmark 10-yr treasury note in the US advanced on Monday, pushing the yield lower as dovish ECB and a rate cut from China is seen forcing the Fed to keep rates low. At the time of writing, the 10-yr yield was down 2.1 basis points to 2.062%. The 30-yr yield also lost 3 basis points to trade around 2.869%. The Fed Funds futures now indicate the Fed shall move rates only in March 2016. The latest drop in the Fed rate hike bets seems to have triggered by the ECB and the PBOC. China announced on Friday it would cut rates to battle against a deflationary threat while the European Central Bank signaled on the previous day it was effectively in a countdown to more stimulus. The FOMC meets this week to discuss the possibility of raising its benchmark for the first time in almost a decade. For more information, read our latest forex news.