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Shifting views on the Federal Reserve's monetary policy trajectory are roiling the U.S. Treasury market, as investors gauge how close the central bank is to pulling back from its aggressive monetary policy tightening. Benchmark 10-year yields tumbled at the start of the week as investors reacted to the widening conflict in the Middle East and dovish comments from Fed officials, who leaned into the possibility that interest rates may not need to go higher. The volatility in Treasuries - which has rippled out into equities and other risk assets - is likely to continue until the market gets a definitive signal that the Fed is preparing to downshift, investors said.

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