U.S. Treasury yields are slightly higher over the past week and have displayed a modest upward trajectory over recent months. The 10-year note and the 30-year bond now yield about 2.01 percent and 3.22 percent, respectively. The 2- and 5-year notes are yielding 0.27 percent and 0.89 percent, respectively.
The main drivers of higher yields seems to be mitigation of uncertainty about the fiscal cliff—where, since the deal, long-term rates have risen about 25 basis points (bps)—as well as better incoming economic data.
