U.S. Treasuries Mixed on Last Day of 2024 as Yield Curve Steepens

The last day of trading in 2024 was shortened due to the holiday, and U.S. Treasury futures were actively traded but had little impact on prices, closing mixed. The yield curve steepened after month-end index rebalancing at 1 p.m. New York time. 10-year Treasury yields rose nearly 5 basis points to 4.58% on the day, and at one point early in the session were close to 4.50%, the lowest level in more than a week.