From Quiver Quantitative LLC:

In 2023, the US 10-year Treasury yield experienced dramatic fluctuations, but ended the year close to where it started. Volatility swung between 3.25% and 5%, amid initial recession fears and later resilience. Wall Street experts initially predicted a recession followed by a 2024 rate-cutting bonanza, but experienced a significant recovery late in the year. Market expectations for over 150 basis points of rate cuts in 2024 resulted in significant end-of-year gains. The year concluded with the 10-year yield around 3.86%, and the Bloomberg Treasury index gained approximately 4% for the year. Bond investors saw a dramatic recovery.

The article provides a market overview, key points, and looks ahead. Market signals and economic landscape changes underscore the importance of staying attuned to market signals. The author, David Love, is an editor at Quiver Quantitative, with a focus on global markets and breaking news, and was the CEO of Winter Haven Capital.



Read more: A Wild Ride for US 10-Year Yield in 2023: Ending Where It Began