"Numerous reasons for the selling on Monday, not the least of which is that the market is still way overbought, and while most expect the Federal Reserve to lower rates by 25 basis points next week, there is still a chance they push the next cut out to January. One thing is for sure: if National Economic Council Director Kevin Hassett becomes the next Fed Chairman, we could see rates go much lower in 2026."
"Yields were higher across the curve on Monday, except for the short maturity T-bills. Fixed-income strategists noted Monday's weakness was partly due to a global bond market sell-off triggered by hawkish comments from the Bank of Japan (BoJ) and a wave of new U.S. corporate bond issuance. They also feel that continued rate cuts could spark economic growth. The 30-year long bond closed at 4.74% while the benchmark 10-year note was last seen at 4.09%"
Futures trade higher after sellers regained control Monday, reversing a Thanksgiving-week rally and starting the final trading month of 2025 on the downside. The Dow finished at 47,289 (down 0.90%), the S&P 500 at 6,812 (down 0.43%), and the NASDAQ at 23,275 (down 0.38%). Yields rose across the curve except for short-maturity T-bills, with the 30-year at 4.74% and the 10-year at 4.09%, pressured by a global bond sell-off and heavy U.S. corporate issuance. Oil benchmarks rallied on supply concerns, OPEC+ production decisions, sanctions on Venezuela, and disruptions to Caspian and Russian exports.
Read at 24/7 Wall St.
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