(Bloomberg) -- For all the angst over where the world's benchmark bond yield is going, its level on Christmas Eve is almost exactly the same as a year ago.
The U.S. 10-year Treasury yield was at 2.25%, versus 2.26% on Dec. 24, 2014, having been in a range of about 86 basis points in 2015. Most forecasters at this time last year were anticipating a faster pace of Federal Reserve tightening to send yields higher, with the average estimate at 3.08%. Instead, yields stayed low as inflation held in check.
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