Treasury yields move higher as traders increase bets on Fed rate cut

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U.S. Treasury yields moved higher on Monday to start off the first day of December as investors increased bets on the Federal Reserve cutting interest rates in its upcoming meeting.

At 5:47 a.m. ET, the 10-year Treasury was up more than 2 basis points at 4.044%, while the 30-year bond yield climbed 3 basis points to 4.702%. The 2-year note yield was up less than a basis point to 3.497%.

One basis point equals 0.01% and yields move inversely to prices.

Traders are pricing in a nearly 88% chance of a quarter percentage point cut, compared with 85% on Friday, according to the CME FedWatch Tool.

Treasury yields move higher as traders increase bets on Fed rate cut

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