November 2021 Credit Market Update:
A Funny Thing Happened on the Way to 2% Yields.
Back in January, some market observers were predicting that 10-year U.S. Treasury yields would hit 2% by year end. The benchmark yield started the year at 0.93%, and by March 31st, it was at 1.74%. After reaching a low of 1.19% this summer, it began climbing this fall and on November 23rd the yield hit 1.67%.