Holiday trading is light combined with policy concerns, and the year-end gains of U.S. Treasuries are likely to be fully reversed
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The holiday trading is light and concerns over policies are intensifying, leading to a risk of correction in the U.S. Treasury market, which may erase the gains made in early 2024. The Bloomberg U.S. Treasury Index has declined by about 1.7% this month, with an expected annual gain of only 0.4%. This week, there are few economic data releases, and investors are focused on the upcoming PMI, housing price index, and unemployment claims data. The Federal Reserve's speaking schedule is also nearly empty, and the market will pause trading during the New Year's holiday
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