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The Weekly Fix: 'Bonds Are Back' on High Rates, Recession Fears

The Marriner S. Eccles Federal Reserve building in Washington, DC.

The Marriner S. Eccles Federal Reserve building in Washington, DC.

Photographer: Graeme Sloan/Bloomberg

Welcome to the Weekly Fix, the newsletter where bonds never went out of style. I’m Bloomberg’s chief rates correspondent, Garfield Reynolds

This week brought a slew of interest-rate increases from jumbo to regular in size. The single biggest impact came from the Federal Reserve talking about its latest decision to boost borrowing costs — and how it may soon be time to slow down. Bond investors welcomed the news with open arms — Treasury 10-year yields are down more than 35 basis points in November to well below 3.7% in the steepest monthly rally since 2020.