Insights

Treasury yields moved higher at the front end in June, reflecting expectations that the Federal Reserve may hike rates in 2H2026.

Treasury yields ended May modestly higher on expectations for a higher-for-longer rate environment.

We believe that periods of higher bond market volatility demonstrate the need for proactive tax loss harvesting and tax-loss crossing in bond portfolios throughout the year, rather than waiting until tax-season or year-end.

Treasury yields moved modestly higher in April, as markets responded to resilient economic data, elevated inflation readings, and higher energy prices.

The U.S. Treasury curve shifted higher across the maturity spectrum with yields rising approximately 40bps in the 2- through 10-year range and 30bps on the long end. The move reflected persistent inflation pressures and a shift in market sentiment regarding the likelihood of a Federal Reserve cut in 2026.

Treasury yields rose modestly across the curve during January, with the 2-year and 10-year maturities seeing increases of 5 basis points, as markets adjusted to shifting economic data.

Economic growth remained robust in the fourth quarter, fueled by strong spending from high-income households and productivity gains linked to artificial intelligence-related investments.

Fixed-income market participants often quote the term “yield,” but the word’s context could be misunderstood because various types of yield exist and each is calculated differently.