The 1-month constant maturity yield fell 6 basis points relative to yesterday, while changes of other maturities are within what I would consider normal fluctuations. In terms of news, there are no 4-week bill auction today. There are some positive chatter about the fiscal cliff. For example, here:
“Optimism that President Barack Obama and Congressional leaders will reach a deal on the budget deficit and avoid the "fiscal cliff" helped stocks notch their first advance in four days.”
Looking back, the 1-month yield on Nov 1, Nov 2, and Nov 3 are 0.06, 0.08, and 0.09. It is 0.07 today and 0.13 yesterday. From what I can tell, the jump most likely is due to the news about fiscal cliff.
