US Treasury yields stabilized during the holiday-shortened trading week, giving back most of Tuesday's gains. The earlier rally followed data showing the US economy grew at an annualized rate of 4.3% in Q3, which pushed the 2-year yield to a 13-day high of 3.559% as investors scaled back expectations for another January rate cut.
Market participants noted the backward-looking nature of the GDP figures, with traders continuing to monitor signs of labor market weakness and slowing inflation for forward guidance.
The 10-year Treasury yield declined 0.8 basis points to 4.161% after touching a 13-day peak of 4.202% on Tuesday, while the 2-year yield held steady at 3.544%.
US bond markets closed early Wednesday and remained shut Thursday for Christmas holidays.
