How do bonds perform one year after the Fed’s first interest-rate cut?

The U.S. bond market’s strong rally in the fourth quarter likely has more room to run, even if the Federal Reserve takes its time in cutting interest rates, according to Janus Henderson Investors. Fed Chair Jerome Powell signaled late last year plans to pivot to rate cuts in 2024. That sparked a more than 1% retreat in the benchmark 10-year Treasury yield BX:TMUBMUSD10Yfrom its 16-year peak of 5% reached in October. Falling benchmark rates also helped boost the broader bond market, with th