U.S. Unemployment Rate Rises, Influencing Treasury Yields

According to ChainCatcher, the unemployment rate in the United States increased to 4.6% in November, marking the highest level since 2021. This development has heightened market expectations that the Federal Reserve will further reduce interest rates by 2026. Consequently, U.S. Treasury prices experienced a slight uptick, with yields across various maturities generally declining. Notably, the two-year Treasury yield briefly fell by 5 basis points to 3.45%, reaching its lowest point since October 24, while the ten-year yield decreased by 4 basis points to 4.14%. The market currently estimates a 20% probability of a rate cut in January next year.