**Mortgage Rates Surge, Treasury Yields Climb, Rate Cut Hopes Fade**

Market Trends Shift as Bond Yields Rebound

A significant development in the financial markets unfolded on Friday, as the Treasury yield curve underwent a notable transformation. After experiencing a period of relative stability, with the three-month yield fluctuating within a narrow range over the past 11 trading sessions, longer-term yields suddenly surged forward. This marked a substantial departure from the trend that had emerged following the recent drastic interest rate reduction.

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