US Treasuries rally as 10-year yield posts biggest monthly drop
In short
US Treasuries rose, and the 10-year yield saw its biggest monthly fall in almost three years. The move came as tech stocks sold off and weak earnings from Amazon and Intel hurt confidence.
The rally points to more demand for safer assets. It is still not clear how long the move will last or how the Federal Reserve will act next.
What the reporting says
US Treasuries rallied, sending the benchmark 10-year yield to its biggest monthly decline in nearly three years, according to a publisher summary dated in the current reporting period. The move came as technology stocks sold off, earnings from Amazon and Intel hurt confidence, and investors shifted toward safer assets. The immediate market result was lower yields, while the size of the move and December Fed expectations remain the main unknowns.
Why it matters
US Treasuries rallied and pushed the benchmark 10-year yield to its largest monthly decline since 2023, based on the publisher summary. The move was linked to a selloff in technology stocks and weaker confidence after Amazon and Intel earnings, with investors moving into safer assets. The reporting also says expectations for a December rate hike remain high after the latest Federal Reserve meeting, but the exact policy outcome is not stated.