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Treasury yields rise ahead of Fed rate decision
CNBC said U.S. Treasury yields edged higher Wednesday as traders awaited a Federal Reserve decision widely expected to leave rates unchanged.
Wire reporting: (AP, via The Philadelphia Inquirer)
U.S. Treasury yields moved slightly higher Wednesday morning as investors waited for a Federal Reserve interest-rate decision later in the session, CNBC reported1.
CNBC said the 10-year note yield was more than 2 basis points higher at 5.0134%, the 2-year yield was up 1 basis point at 4.7494%, and the 30-year yield was at 5.3200%1.
Traders priced a 90.6% chance that the Federal Open Market Committee would leave its target range unchanged at 3.75% to 4.00%, according to the CME FedWatch Tool cited by CNBC1.
CNBC said investors would watch Fed Chair Kevin Warsh's statement for clues on the path ahead, and that markets put a 76.5% chance on a 25-basis-point increase at the Dec. 9 meeting1.
CNBC said Thursday's personal consumption expenditures index, GDP and personal income and spending figures would give another look at inflation and growth1.
An Associated Press dispatch carried by The Philadelphia Inquirer also covered Wednesday's session, including equities and last month's rate increase, and described Treasury yields as holding relatively steady2.
The Fed's actual decision and any language on future policy had not been released at the time of the reports1,2.
Sources
How it’s being reported
2 sourcesFirst reported by
CNBC
Treasury yields tick higher ahead of Federal Reserve interest rate decision
Bond yields and market-implied odds of a hold versus a later hike.
CNBC reported modest rises in 2-year, 10-year and 30-year yields before the Fed announcement.
Leaves out Stock-index moves and corporate earnings due after the bell.
US stocks edge higher ahead of Federal Reserve decision on interest rates
Gives this outlet’s account of the story.
Where they agree
- The Federal Reserve was due to announce a rate decision Wednesday.
- Markets widely expected no change at this meeting.
Where they differ
How Treasury yields moved Wednesday morning