December 12
In the U.S., the yield on the 2-year Treasury rose 53 basis points (“bps”) over the month to 4.17%. The yield on the benchmark 10-year Treasury rose 50 bps to 4.28%. The yield on the 30-year Treasury rose 35 bps to 4.47%. Markets were subject to volatility given strong economic data reports and expectations tied to the timing and magnitude of the Fed’s path of lower monetary policy, as well as election uncertainty.
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