The 10-year Treasury yield rose again on Friday, reaching a seven-month high. The yield on the benchmark 10-year Treasury stood at 4.593%, just 1 basis point higher than the previous day’s level. The 10-year rate had hit a high of 4.641% in the previous session, its highest level since May.
The 2-year Treasury was fractionally lower at 4.318%. Yields move inversely to prices. In other news, jobless claims data released Thursday showed a drop of 1,000 claims to 219,000 for the week ending December 21, below the 225,000 consensus forecast.
However, continuing claims rose by 46,000 for the week ending December 14 to the highest level since November 2021. The 10-year Treasury yield has risen more than 40 basis points in December as traders anticipate a more hawkish Federal Reserve in 2025. The central bank next meets at the end of January, when a rate hold is expected.
