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Treasury 30-Year Yield Falls to 4% in Fallout From Fed Shift
The US 30-year yield fell below 4% to the lowest level since July as bond investors continued to assess the implications of the Federal Reserve’s recent policy shift. The 30-year Treasury bond’s yield declined as much as 3.6 basis points to 3.99%, extending its retreat from a multiyear high of 5.18% reached in October. Fed policy makers Dec. 13 published new quarterly forecasts for the US benchmark interest rate they control showing they anticipate lowering it more next year than they did in September. Five- to 10-year Treasury yields fell back below 4% in the initial reaction to the Fed’s communications ... (full story)