U.S. Treasury yields surged and then retreated, as investors' expectations for a Federal Reserve rate cut temporarily cooled

On Monday (December 8), at the New York close, the yield on the U.S. 10-year Treasury rose by 3.32 basis points to 4.1682%, with an intraday trading range of 4.1273%-4.1897%. After the U.S. stock market opened at 22:30 Beijing time, there was a short-term rally, approaching the intraday high of 4.1989% on September 25 and the peak of 4.2226% on September 4. The yield on the 2-year U.S. Treasury rose by 1.68 basis points to 3.5771%, and during the early trading session, it also briefly surged from the 3.5770% level, reaching a daily high of 3.6082%; the yield on the 30-year U.S. Treasury rose by 1.82 basis points to 4.81%, rebounding from below 4.79% to above 4.83%. The yield spread between the 2-year and 10-year U.S. Treasuries increased by 1.627 basis points, reaching a daily high of +58.908 basis points, approaching the peak of +60.774 basis points on September 5 and the peak of +63.867 basis points on September 3. The yield on the 10-year Treasury Inflation-Protected Securities (TIPS) rose by 3.57 basis points to 1.8803%; the yield on the 2-year TIPS rose by 4.17 basis points to 1.0940%, nearing the August 21 quote of 1.1426%; the yield on the 30-year TIPS rose by 2.04 basis points to 2.5895%. 7:45 2024/12/17 ++Revised 3:32 2025/10/24