10-year Treasury yields above 4.6% ahead of Christmas break

Treasury yields fluctuated on Tuesday during a holiday-shortened trading session ahead of the Christmas break.

Exit at st 10-year treasury was down at 4.594% after rising 3 basis points to 4.613%, its highest level since May 30. On Monday, the benchmark rate rose by 6 basis points. The 2-year Treasury was also little changed at 4.341%, after rising by 3 basis points in the previous session.

One basis point equals 0.01%. Profitability moves inversely with prices.

Tuesday is likely to be a muted day for US financial markets, given the early close of stock trading at 1:00 PM ET. The bond market closes at 2 p.m

Markets will remain closed on Wednesday for Christmas Day.

The yield on the benchmark 10-year note jumped 13 basis points last week after the Federal Reserve cut its rate cut forecasts, suggesting we could face just two more rate cuts in 2025, compared to four potential cuts. which was announced in September.