10-year Treasury yield moves lower as investors mull rates path following strong GDP data
U.S. Treasury yields declined on Wednesday as investors positioned for a shortened trading day ahead of the holidays.
TL;DR
- U.S. Treasury yields fell on Wednesday before the holiday.
- 10-year Treasury yield dropped to 4.134%, 2-year yield to 3.51%, and 30-year yield to 4.794%.
- Jobless claims decreased to 214,000 for the week ended Dec. 20.
- U.S. economy grew 4.3% in Q3, the fastest pace in two years.
- National Economic Council Director Kevin Hassett believes the Fed is behind on rate cuts.
- Cleveland Fed president Beth Hammack suggested holding rates steady for several months.
- Market expectations, via CME FedWatch Tool, indicate rates will remain unchanged until April.
- Bond markets closed early on Wednesday and were closed Thursday for Christmas.