Benchmark lending rates in the wake of the Federal Reserve's big rate cut last week, its first in four years, have been trudging higher. The 10-year Treasury yield was at 3.76% on Monday, about 18 basis points above its 2-year counterpart,

Futures on the fed funds rate, which measures the cost of unsecured overnight loans between banks, have priced in on Wednesday about 76 basis points of additional rate cuts by the Federal Reserve by the end of the year,

U.S. stock index futures edged lower on Friday, pausing after the previous session's rally set Wall Street's main indexes on track for weekly gains following the Federal Reserve's pivotal stance on monetary policy earlier in the week.