Falling Bond Yields Boost Optimism of End to Bear Market as Inflation Cools, Holiday Travel Hits Record Highs
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Bond yields have fallen sharply this week as inflation slows, boosting optimism that the bear market may be ending. Lower yields benefit stocks and loosen financial conditions.
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The 10-year Treasury yield has dropped to 4.44% from nearly 5% last month. The 30-year mortgage rate also fell, potentially easing the housing market crisis.
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Analysts now see a 100% chance of a Fed rate pause or cut in December, up from 93% last week. But forecasts for timing and scale of future cuts vary.
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Air travel over Thanksgiving is predicted to hit an all-time high of 30 million travelers. Sunday the 26th will be the busiest day with 3.2 million flyers expected.
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49 million Americans are expected to drive over the holiday period. Gas prices are declining but traffic will remain heavy.