U.S. Treasury yields experienced an uptick on December 4, 2024, following remarks from Federal Reserve officials that signaled a cautious approach to future interest rate cuts. St. Louis Federal Reserve President Alberto Musalem emphasized a careful stance on monetary policy, which contributed to the rise in yields. The 10-year Treasury note yield increased by 4.8 basis points to 4.269%, while the 30-year bond yield rose by 5 basis points to 4.443%. This cautious outlook, coupled with disappointing payroll data from the ADP National Employment Report, has widened the yield curve gap between two- and 10-year notes by 7.1 basis points, reflecting shifts in economic expectations.
The BondBloxx Bloomberg Three Year Target Duration US Treasury ETF (XTRE) saw a slight decline to $48.94, down 0.06% as of 10:06 AM ET on December 4th.