(Bloomberg) — US Treasuries initially rose on Wednesday after the Federal Reserve decided to maintain interest rates but indicated that it is not in a hurry to adjust its policy.
The Fed’s policy statement eroded the earlier rally as yields declined due to a slowdown in the labor market, tech stock struggles, and an unexpected quarterly loss at a New York bank, raising concerns about the financial health of regional lenders.
Despite the decline, the two-year Treasury rate was still down around 6 basis points at 4.27% after the Fed’s announcement at 2 p.m. New York time, having fallen as much as 15 basis points earlier. The 10-year yield, which serves as a benchmark for mortgages and corporate loans, also decreased by a similar amount to 3.98%.
The Fed’s assurance that it will not cut rates until it is more confident about inflation moving sustainably toward its target has impacted financial market confidence…
2024-01-31 14:14:04
Read more on finance.yahoo.com
