[U.S. Treasury Yields Rise During Asian Trading Session, Market Bets on Fed Rate Cuts]
On December 4, U.S. Treasury yields rose during the Asian trading session, reversing Wednesday's decline, but remained within the recent range. Weekly initial jobless claims data will be released this afternoon, potentially providing key insights for the Federal Reserve's December rate decision. According to LSEG data, the probability of a 25 basis point rate cut by the Federal Reserve is priced at 85% in the currency market. On Wednesday, ADP private sector employment data showed weakness, with November employment unexpectedly declining. Tradeweb data indicates that the two-year Treasury yield rose by 1.8 basis points to 3.503%, while the 10-year Treasury yield increased by 2.5 basis points to 4.082%.