10-year yield holds near 4.1% range following Fed minutes

Breakdown

• Analysts found the latest Fed minutes confusing, noting division among Fed members despite having the same data.
• Many Fed officials indicated a December rate cut is 'likely not appropriate,' with little evidence of hawkishness in the minutes. 27s
• Despite headlines, actual interest rates did not spike, and market volatility remained low. 41s
• The probability of a rate cut briefly fell below 30% after news about jobs data timing, but moved up slightly after the Fed minutes. 1m 10s
• 10-year Treasury yields have remained in a narrow range between 4.07% and 4.17% throughout November. 1m 53s