US Treasury yields post slight gains ahead of FOMC rate decision
U.S. government debt prices were lower on Wednesday, as investors awaited the latest rate decision by the U.S. central bank.
The yield on the benchmark 10-year Treasury note was higher at around 2.894 percent at 5:50 a.m. ET, while the yield on the 30-year Treasury bond was higher at 3.125 percent. Bond yields move inversely to prices.
The Federal Open Market Committee’s (FOMC) March two-day meeting finishes today — it is due to release its latest monetary policy decisions at 2 p.m. ET.
The central bank is expected to raise interest rates for the first time in 2018, after which newly-appointed Fed Chair Jerome Powell is set to host a press conference.
Investors will be paying close attention to the Fed’s rhetoric, to see if it comments on key topics such as inflation, the state of the U.S. economy and politics.
The Fed may choose to not mention the topic of potential trade wars, in order to keep markets at bay.
Not a Scientific Survey. Results may not total 100% due to rounding.
In economic data, mortgage applications are due out at 7 a.m. ET, followed by current account data at 8:30 a.m. ET and existing home sales at 10 a.m. ET.
No auctions are due to take place by the U.S. treasury Wednesday.
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