Historical education / 2024-12-18
Another policy cut. Higher daily Treasury yields.
The Fed cut the policy target by 0.25 percentage point to 4.25–4.50%. Beth Hammack dissented, preferring no change. Release at 14:00 EST. Daily observations describe the day, not an isolated announcement effect.
Confidence not assessed. Daily association, not proof of causation.
Observation / sourced
What the daily curve records
U.S. Treasury nominal par yields, in percent. A yield change is not a bond return.
| Observation | 2-year | 10-year |
|---|---|---|
| 4.25% | 4.40% | |
| 4.35% | 4.50% | |
| Change Calculated | +10 bp | +10 bp |
Interpretation / editorial hypotheses
Mechanism & alternatives
These explanations are proposed from the cited facts, not statements made by the sources.
Possible mechanism
Expectations about the future rate path could rise even when today’s policy target falls.
Alternatives
Growth or inflation views, term premia and positioning could contribute to higher daily yields.
What would challenge the explanation?
Compare licensed intraday rates around the release with independently sourced expectations. A move before the announcement or no corresponding expectation change would weaken the proposed mechanism.
No quantitative policy surprise is measured, and daily endpoints cannot isolate the statement from projections or other communication.
Inspect the evidence
Sourced / Federal Reserve
2024-12-18 FOMC statement (opens new tab)
The Fed cut the policy target by 0.25 percentage point to 4.25–4.50%. Beth Hammack dissented, preferring no change. Release at 14:00 EST.
Original scheduled release: 2024-12-18 · 19:00 UTC.
Sourced / U.S. Treasury
Daily Treasury par yield curve · 2024 (opens new tab)
2-year and 10-year nominal par yields; percent units. Daily curve estimates, not instrument prices or intraday candles.
Observation date: 2024-12-18. Publication time not established.