The global asset that dominated the conversation in much of 2023 and particularly in Q4 was the 10-year Treasury note. However after a tumultuous year, it finishes nearly unchanged.

The 10-year closed 2022 at 3.83% and it closes today at 3.87%. In the meantime it fell as low as 3.25% on the spring regional US banking crisis and as high as 5.02% on the October debt rout.

The yearly chart paints a doji star, which is an indication of further volatility ahead.

Other changes on the bond curve:

• Two year yields down 11.3 bps on the year
• 30-year yields up 9 bps on the year

This article was written by Adam Button at www.forexlive.com.