[ad_1]
The yield on the benchmark 10-year Treasury note was down around 3.6 basis points to 3.8864%, having fallen below 4% on Thursday to hit its lowest point since July. The 2-year yield slipped 5.5 basis points to 4.3818%.
Meanwhile while the yield on the 30-year Treasury bond dropped just under 3 basis points to 4.0071%.
Yields move inversely to prices. One basis point equals 0.01%.
Treasury yields have come off their highs after the Fed last week indicated three likely interest rate cuts in 2024. The unexpectedly dovish pivot prompted a steep fall in the 10-year yield as investors increased bets on a quicker loosening of monetary policy.
Economic data releases on Wednesday will include a third-quarter U.S. current account reading, followed by November’s existing home sales figures and December consumer confidence data.
Auctions will be held Wednesday for $56 billion of 17-week Treasury bills and $13 billion of 20-year bonds.
[ad_2]
