The 10-year Treasury yield surged to its highest level in seven months during the holiday-shortened Christmas Eve session, only to see a slight pullback later on Tuesday.
Early gains were seen in the 2-year Treasury note and other short-term bond markets before the market closed. The brief increase was attributed to a recent rebound in stocks that has been sustained over several trading sessions.
Treasury yields declined slightly on Tuesday as investors shifted their focus away from the bond market, fueling the recent rally in the stock market.
Source: https://www.marketwatch.com/story/10-year-treasury-yield-hits-fresh-7-month-high-during-holiday-shortened-session-656fb93e