10-year Treasury yield dips below 4%

Treasury Yields & Market Trends - Two-year Treasury yield closed at the lowest since September 2022 [1] - Ten-year Treasury yield closed at the lowest since October 2024 (approximately one year prior) [2][3] - Trading ranges for both two-year and ten-year treasuries have been narrow recently [2][3] - Market participants are showing apprehension about trading below 4% due to lack of follow-through [3] Funding Market Indicators - Secured Overnight Funding Rate (SOFR) decreased from 430 basis points to 418 basis points [4] - Yellow flashing for funding markets is coming down a bit [4] Equity Market Reaction - Equity market seemed to look past the funding market dynamics [4]