U.S. Treasury yields rose during the Asian trading session as the market continued to bet on interest rate cuts

According to Jinshi, U.S. Treasury yields rose during the Asian trading session, reversing Wednesday's decline, but still remained within the recent range. The initial jobless claims data for this week will be released this afternoon, serving as a potentially important input ahead of the Federal Reserve's December interest rate decision. According to LSEG data, the money market continues to bet on rate cuts, pricing in an 85% probability of a 25 basis point cut. Wednesday's ADP private sector employment data was weak, showing an unexpected decline in November employment numbers. According to Tradeweb data, the two-year Treasury yield rose by 1.8 basis points to 3.503%, while the ten-year Treasury yield increased by 2.5 basis points to 4.082%.