The 10-year Treasury yield drops below 4.3% for the first time since September.

On Wednesday, U.S. Treasury yields decreased due to improved GDP data and investor expectations that the Federal Reserve has ended its rate-increase cycle.

Since September, the benchmark rate has not traded below 4.3% on the 7 basis points lower at 4.267%. The yield was previously down by about 9 basis points at 4.648%, marking the lowest level since July 18 when it yielded as low as 4.660%.

Prices and yields move in opposite directions, with one basis point equal to 0.01%.

On Wednesday, equities surged due to the Commerce Department's announcement that U.S. GDP for the third quarter grew at a stronger-than-anticipated pace, with an annualized rate of 5.2%.

The Fed's goal of slowing the economy and lowering inflation was seen as achievable by investors after hearing Federal Reserve Governor Christopher Waller's comments on Tuesday. Waller stated that monetary policy was "well positioned" to achieve these goals, which led many to believe that the central bank may have finished raising interest rates.

The final Fed meeting of the year is set for Dec. 12-13. Markets anticipate the central bank to maintain rates and are seeking clues on when policymakers believe rates may decrease.

Despite data published Tuesday indicating that consumers anticipate economic contraction, their confidence in the economic outlook increased in November.