Unemployment rate unexpectedly rises in November, US Treasury yields generally fall

ChainCatcher News, according to Golden Ten Data, John Briggs, Head of US Rate Strategy at Natixis North America, stated that the unemployment rate rose to 4.6% in November, the highest level since 2021. This has strengthened market expectations that the Federal Reserve will further cut interest rates in 2026, leading to a slight increase in US Treasury prices and a general decline in yields across all maturities. The two-year yield once fell by 5 basis points to 3.45%, hitting a new low since October 24, while the ten-year yield dropped by 4 basis points to 4.14%. The market estimates the probability of a rate cut in January next year at about 20%.