The benchmark U.S. 10-year Treasury's yield on Wednesday hit its lowest point since mid-July, as investors expect a mild recession and Federal Reserve interest rate cuts in the New Year. The yield on 10-year Treasury notes was down 9 basis points at 3.796%. It briefly touched 3.820% earlier in the day, its lowest since July 19. Meanwhile, the two-year U.S. Treasury yield hit its lowest point since May 17 at 4.243%. The two-year's yield typically moves in step with interest rate expectations The 30-year Treasury bond's yield, meanwhile, was down 8.2 basis points at 3.961%. The decline in yields to cap 2023 comes as ... (full story)