US Yields at 2024 Highs Lure Buyers Even as Shorts Dominate
- Negative sentiment still prevails as two-year yields test 5%
- Year-end dovish hedges in SOFR options offset bearish bets
The US Treasury building in Washington, DC.
Photographer: Nathan Howard/BloombergThis article is for subscribers only.
The highest US yields since November are beginning to attract some opportunistic buyers, even as negative sentiment remains firmly entrenched throughout the Treasury bond market.
Treasuries rose on Wednesday, sending two-year yields down about 4 basis points to 4.95%, and trimming some of the recent surge in rates.