Market Update: Treasury Yields Rise, Stock Market Recovers, and Housing Market Finds Equilibrium

U.S. Treasury yields rose after the Thanksgiving holiday, with the benchmark 10-year yield increasing by over 5 basis points to 4.47%. Investors are evaluating the outlook for interest rates and the economy following the Federal Reserve's recent meeting minutes, which did not suggest any imminent rate cuts. Markets are currently pricing in a 99.5% chance of rates being held steady at the December Fed meeting. Additionally, the release of S&P Global flash purchasing managers' index figures on Friday will provide insight into U.S. business activity across services and manufacturing.