Treasury Rally Stalls After Yields Dip to Month’s Lowest Levels

Gains pared after 4Q GDP estimate, jobless claims declines
Morgan Stanley sticks with prediction of Fed rate cut in March

WATCH: “Both the markets and the Fed have caught up with the reality that this is a different environment that’s going to require higher rates for longer,” BlackRock’s Jean Boivin says.Source: Bloomberg

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By Ye Xie and Michael MacKenzie

January 30, 2025 at 3:29 AM EST

Updated on

January 30, 2025 at 3:14 PM EST

The Treasury market pared a rally that sent most yields to monthly lows after US economic data bolstered the Federal Reserve’s stance that there’s no urgency to cut interest rates further.

Yields were lower by less than two basis points in late US trading Thursday after paring steeper declines. The 10-year note’s fell more than four basis points to 4.48%, the lowest level since Dec. 18, and rebounded to around 4.51%.