U.S. Treasury investors were given a belated Christmas present in higher yields during the thin Boxing Day trading session.
The 10-year Treasury yield rose above 4.64 percent on Dec. 26, the highest since May. The 20- and 30-year yields also inched higher to 4.87 percent and 4.78 percent, respectively.
Yields on short- and medium-term U.S. government bonds were also in a sea of green ink.
“There wasn’t any reason for the rise other than momentum combined with slow trading, but clearly the path of least resistance for Treasury yields is higher,” Tom Essaye, founder and president of Sevens Report Research, said in a note emailed to The Epoch Times….