Bond selloffs have cooled down.
Samantha Subin 22, Associate Reporter for CNBC Pro; Elliot Smith, Correspondent for CNBC International, 12/21/2022, “Yield on 2-year Treasury dips as calm returns to bond markets after sell-off,” https://www.cnbc.com/2022/12/21/treasury-yields-muted-as-calm-returns-to-bond-markets-after-sell-off.html
The yield on the 2-year U.S. Treasury note dipped Wednesday as global bond markets stabilized following the previous session’s sell-off on the back of a surprise policy shift from the Bank of Japan.
The yield on the 2-year Treasury bond fell nearly 5 basis points to 4.221%, while the yield on the benchmark 10-year Treasury note traded about a basis point lower to 3.675%. Yields move inversely to prices.
Risk-on sentiment returned on Wall Street Wednesday as investors assessed better-than-feared earnings from Nike and FedEx, sending shares of both companies higher.
Consumer confidence data for December came in at the highest level since April, further fueling bullish sentiment.