Treasury yields fluctuated Tuesday in a shortened trading session ahead of the Christmas holiday.
The yield on the Cash flow at 10 years became stable at 4.594% after gaining 3 basis points to 4.613%, reaching its highest level since May 30. The benchmark rate rose 6 basis points on Monday. THE Cash flow over 2 years was also little changed at 4.341%, after increasing by 3 basis points in the previous session.
One basis point equals 0.01%. Yields move inversely to prices.
Tuesday is shaping up to be a quiet day for U.S. financial markets, given the early close at 1 p.m. ET for stock trading. The bond market stops trading at 2 p.m.
The markets will remain closed on Wednesday for the Christmas holidays.
The benchmark 10-year yield jumped 13 basis points last week after the Federal Reserve reduced its rate cut forecast, indicating only two more interest rate cuts are coming in 2025, down from four potential reductions reported in September.
