10-year Treasury yield slip further after Fed’s ‘big shift’

The 10-year Treasury note yield slipped further on Monday, as the final full trading week of 2023 gets underway.
Traders continue to digest the unexpectedly dovish tone of the U.S. Federal Reserve last week. The central bank held its key interest rate steady and revealed that policymakers were penciling in at least three rate cuts next year — marking a more aggressive series of cuts than what was previously hinted.
The yield on the 10-year Treasury was marginally lower at 3.913%. Last Thursday, the yield fell below the 4% level, hitting its lowest since July.
The 2-year Treasury yield eased by 3 basis points to 4.423%, below the closely watched 4.5% level.
Yields and prices move in opposite directions. One basis point equals 0.01%. $S&P 500 Index(.SPX.US)$ $Dow Jones Industrial Average(.DJI.US)$ $Nasdaq Composite Index(.IXIC.US)$