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Story summary
- US Treasury yields declined after the Christmas holiday, with the 10-year at 4.22% and the 2-year at 3.48%.
- Demand weakened at some short-dated bond auctions, with lower bid-to-cover ratios.
- Traders priced in about an 18% probability of a Federal Reserve rate cut in January.
- Analysts say that 214,000 initial jobless claims and 4.3% first-quarter growth, the fastest in two years, will keep inflation and growth from driving yields lower.
