US 10-Year Bond Yield Dips to Almost 3.8%

The yield on the US 10-year Treasury note dipped to almost 3.8%, the lowest since July 21st as the Federal Reserve is set to cut interest rates next year. At the beginning of December, the Fed pointed to three interest rate cuts in 2024, with additional reductions anticipated in 2025 and 2026 due to a decrease in inflation over the past year. According to CME Group’s FedWatch tool, markets are expecting rates to be left unchanged at the January Fed meeting but are factoring in a 75% likelihood of a 25-basis-point rate cut in March.

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