The 10-year Treasury yield dropped to its lowest level since late October after the Thanksgiving holiday, retreating nearly 5 basis points to 4.194%. The 2-year Treasury yield also fell, shedding around 3 basis points to 4.176%. This decrease is due in part to a shortened trading day for US markets and a lack of significant economic data releases.
The Federal Reserve’s inflation measure came in line with forecasts earlier this week, but the upcoming rate hike threat by President-elect Donald Trump may impact interest rates. Markets are now pricing in around 66% odds on a 25 basis-point rate cut in December, driven by concerns over domestic inflation fueled by potential tariff hikes targeting China, Mexico, and Canada.
Source: https://www.cnbc.com/2024/11/29/10-year-treasury-yield-slips-on-holiday-shortened-trading-day.html